DBRS changes Landesbank Berlin view

DBRS said it confirmed the ratings of Landesbank Berlin AG, including the long-term issuer rating at A, the subordinated debt rating at BBB (high) and the short-term issuer rating at R-1 (low).

The agency said the action follows the confirmation of the floor ratings for the Sparkassen-Finanzgruppe on March 27.

The intrinsic assessment remains at BBB (high) and the support assessment remains at SA1.

The trend was changed to positive from stable.

DBRS said the change in the trend reflects a view that the profitability in the Sparkassen sector continues to show resilience despite the low interest rate environment, the further de-risking of the Landesbanken sector and the consistent progress the group has made in improving its capital position.

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