Rating

Financial Ratings

The leading international ratings agencies Moody's and Fitch Ratings have issued the following credit assessments of HSH Nordbank:

Moody‘s Fitch
Public Sector Covered Bonds Aa2 -
Mortgage Covered Bonds Aa3 -
Ship Covered Bonds Baa1 -
Long Term Deposits Baa3 BBB-
Senior-senior Unsecured bank debt1/
Derivative Counterparty Rating
Baa3 BBB-
Senior Unsecured, long term Baa3 BBB-
Unsecured liabilities, short-term P-3 F3
Subordinated capital B2 B-
Hybrid capital T1 Ca -
Financial Strength (BCA)/ Viability Rating
BCA: b3 VR: b



Senior Unsecured, long term - guaranteed Rating Aa1 AAA

1 Comprises so-called complex structured notes issued by German banks which benefit from a preferential treatment in a bail-in over non-structured notes under the new German insolvency law as of 2017 (German Banking Act (KWG) Section 46f paragraph 6 and 7)

stable

negative outlook

under review for possible downgrade

developing

under review for possible upgrade


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Recent publications about HSH Nordbank

Moody's Fitch
Detailed rating reports Credit Opinion:
07/03/2017
Full Rating Report:
08/18/2017
Last press releases Issuer In-depth:
12/05/2017
Press Release:
11/30/2017


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Further publications

Sustainability Ratings

imug
2016
Uncovered Bonds neutral (CC)
Public Sector Covered Bonds very positive (A)
Mortgage Covered Bonds positive (B)
Ship Covered Bonds neutral (CC)


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Rating City State of Hamburg and State of Schleswig-Holstein

Fitch
City State of Hamburg AAA
State of Schleswig-Holstein AAA


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