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Moody's upgrades Berlin Hyp AG
Moody's Ratings said it upgraded Berlin Hyp AG's long-term issuer and senior unsecured ratings to Aa2 from Aa3. At the same time, the agency raised the bank's long-term senior unsecured medium-term note program rating to (P)Aa2 from (P)Aa3, and the subordinate MTN program rating to (P)Baa1 from (P)Baa2.
Concurrently, Moody's said it affirmed Berlin Hyp's baseline credit assessment at ba1 and upgraded its adjusted BCA to a3 from baa1.
The rating committee also reviewed Berlin Hyp's A2 junior senior unsecured debt ratings and the bank's (P)A2 junior senior unsecured MTN program rating. They remain unchanged because the committee extended the review for upgrade for these instruments. For all other rated liabilities of Berlin Hyp, this rating action concludes the rating review started on Feb. 9, where applicable, Moody’s said.
“The upgrade of Berlin Hyp's long-term ratings, where applicable, follows the upgrade of the bank's adjusted BCA and incorporates unchanged results from Moody's advanced loss given failure (LGF) analysis and unchanged assumptions for government support,” the agency said in a press release.
The outlook is stable.
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