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 assessed by three rating agencies.

The main ratings and current reports can be found here:

Moody's Investors Service

Fitch Ratings

Senior unsecured preferred debt A
Senior unsecured non-preferred debt A-
Subordinate-/Tier-2-Bonds B+
Intrinsic financial strength (Viability Rating) bb

DBRS Morningstar

Senior unsecured preferred debt A (high)
Senior unsecured non-preferred debt A
Subordinate-/Tier-2--Bonds A (low)
Intrinsic financial strength (Intrinsic Assessment) BBB (low)

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

MSCI*                                                           BBB**
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
*** March 2023

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


Links to ratings of our subsidiaries