Fitch lifts Berlin Hyp viability

Fitch Ratings said it upgraded Berlin Hyp AG's viability rating to bbb from bbb-.

The agency also affirmed the bank’s long-term issuer default rating at A+ with a stable outlook, short-term issuer default rating at F1+ and support at 1.

Fitch said the issuer default ratings and support rating were driven by institutional support from the German savings banks (Sparkassen-Finanzgruppe, A+/stable/F1+/a+).

Berlin Hyp's issuer default ratings and senior debt rating are equalized with those of the bank's ultimate owners, reflecting the agency’s view of an extremely high probability of support from the savings banks for Berlin Hyp would be forthcoming, if needed.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.