Moody's assigns Oldenburgische notes Ba3

Moody's Investors Service said it assigned a Ba3(hyb) rating to the planned €100 million of undated non-cumulative fixed to reset rate additional tier 1 notes to be issued by Oldenburgische Landesbank AG.

“The Ba3(hyb) rating assigned to OLB's ‘low trigger’ additional tier 1 (AT1) securities takes into account the instrument's undated deeply subordinated claim in liquidation, as well as the security's non-cumulative coupon deferral features, and is positioned three notches below OLB's baa3 adjusted baseline credit assessment (BCA),” Moody’s said in a press release.

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