Ratings

External ratings show how the economic situation and creditworthiness of companies, institutions or states are assessed. Ratings are carried out on the basis of quantitative and qualitative factors. The result of a rating is the allocation to a credit rating level or rating class. The designations of the levels vary from one rating agency to the next.

NORD/LB is currently rated by three rating agencies. You can find the main ratings and the current reports here and below.
You can also find the sustainability ratings on this page.

Moody's Investors Service

Ratings  
Public-Sector Covered Bonds (Öffentliche Pfandbriefe) Aa1
Mortgage Covered Bonds (Hypothekenpfandbriefe) Aa1
Senior unsecured preferred debt, Issuer Rating A3
Senior unsecured non-preferred debt Baa2
Subordinate-/Tier-2-Bonds Ba2
Instrinsic financial strength (Adjusted Baseline Credit Assessment) ba1
Moody's Performance Overview - Public Sector Covered Bonds (30.6.23) (PDF, 1 MB)
Moody's Performance Overview - Mortgage Covered Bonds (30.06.23) (PDF, 813 KB)
Moody's Credit Opinion NORD/LB (19.4.23) (PDF, 1 MB) (PDF, 1 MB)
Moody's affirms NORD/LB's ratings; changes outlook to positive from stable (23.3.23) (PDF, 83 KB)
Moody's Issuer Profile (1.8.22) (PDF, 1 MB)
Moody's withdraws Deutsche Hypo's ratings (8.7.21) (PDF, 111 KB)
Moody's Issuer Comment NORD/LB and Deutsche Hypo Covered Bonds (28.6.21) (PDF, 1 MB)
Moody's Issuer In-Depth NORD/LB (10.5.21) (PDF, 1 MB)
Moody's Credit Opinion - Public Sector Covered Bonds (2.2.21) (PDF, 1 MB)
Moody's Credit Opinion - Mortgage Covered Bonds (7.10.20) (PDF, 2 MB)

Fitch Ratings

Ratings  
Senior unsecured preferred debt A
Senior unsecured non-preferred debt, Issuer Rating A-
Subordinate-/Tier-2-Bonds B+
Intrinsic financial strength (Viability Rating) bb
Fitch NORD/LB Full Rating Report (24.3.23) (PDF, 479 KB)
Fitch Ratings Navigator (10.3.23) (PDF, 422 KB)
Fitch Affirms NORD/LB at 'A-'; Stable Outlook (7.3.23) (PDF, 56 KB)

DBRS Morningstar

Ratings  
Senior unsecured preferred debt, Issuer Rating A (high)
Senior unsecured non-preferred debt A
Subordinate-/Tier-2-Bonds A (low)
Intrinsic financial strength (Intrinsic Assessment) BBB (low)
DBRS NORD/LB Rating Report (16.12.2022) (PDF, 414 KB)
DBRS Morningstar Confirms NORD/LB’s Issuer Ratings at A (high)/ R-1 (middle), Stable Trend (2.12.2022) (PDF, 68 KB)

The rating information published here is publicly available. The presentation on our homepage is a service for our stakeholders and investors and does not mean that NORD/LB supports or agrees with the information, conclusions or recommendations given there. NORD/LB therefore assumes no liability for the accuracy, currency and correctness of these statements. They also do not constitute a recommendation for buying bonds.

 

Sustainability ratings

Ratings  
MSCI*                                                           BBB**
Sustainalytics 26.9***
ISS ESG C (Prime)****

*The use by NORD/LB of any MSCI ESG Research LLC or its affiliates ("MSCI") date, and the use of MSCI logos, trademarks, service marks or index names herein do not constitute a sponsorship, endorsement, recommendation, or promotion of NORD/LB by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided "as is" and without warranty. MSCI names and logos are trademarks or service marks of MSCI.
** December 2022
*** November 2022
**** March 2023

You can find more information on the topic of sustainability here.

 

Links to ratings of our subsidiaries

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