Moody’s raises Helaba

Moody’s Ratings said it upgraded Landesbank Hessen-Thueringen Girozentrale's (Helaba) long-term issuer, and senior unsecured ratings to Aa2 from Aa3 with a stable outlook. Previously, the ratings were on review for upgrade.

At the same time, the rating agency upgraded the bank's senior unsecured medium-term note rating to (P)Aa2 from (P)Aa3, the junior-senior unsecured rating to A1 from A2, the junior-senior unsecured MTN rating to (P)A1 from (P)A2, the subordinate rating to Baa1 from Baa2 and the subordinate MTN rating to (P)Baa1 from (P)Baa2. It also Moody's affirmed Helaba's baseline credit assessment at baa2 and upgraded its adjusted BCA to a3 from baa1.

Finally, Moody's said it affirmed Helaba's backed senior unsecured, backed junior senior unsecured, and backed subordinate ratings at Aaa. The outlook on the backed senior unsecured rating remains stable. This rating action concludes the review initiated on Feb. 9.

“The upgrade of Helaba's long-term ratings follows the upgrade of Helaba's adjusted BCA and incorporates unchanged results from Moody's advanced loss given failure (LGF) analysis and unchanged assumptions for government support,” Moody’s said in a press release.

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