Standard & Poor's raises rating outlook of apoBank

24.08.2006

Rating agency Standard & Poor's has raised the rating outlook of DZ Bank, apoBank and several other banks in the German cooperative banking sector from "stable" to "positive". At the same the current long- and short-term ratings were affirmed.

Therewith the current rating of apoBank is "A/positive/A-1".

After the ratings had already been upgraded in the previous year, the outlook changes reflect the further progress of DZ Bank and the cooperative banking sector. For the agency the key factors are the improvements in profitability and asset quality as well as capitalization of the cooperative banks.

With regard to apoBank's successful business development within the last years, the bank also contributes to the positive rating of the cooperative banking sector.