DBRS upgrades DZ Bank to AA (low)

DBRS said it upgraded the long-term issuer rating of DZ Bank AG Deutsche Zentral-Genossenschaftsbank to AA (low) from A (high). The trend on all ratings is now stable. The ratings now explicitly incorporate the benefits of DZ Bank’s membership of the Genossenschaftliche Finanzgruppe Volksbanken und Raiffeisenbanken with one notch of uplift from the intrinsic assessment to the issuer rating.

The issuer rating now incorporates the benefit from its membership in the protection plan and deposit insurance plan.

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