apoBank reorganises its rating structure

apoBank terminates rating contract with Moody's


apoBank has reviewed its rating relationships with the rating agencies Moody's Investors Service and Standard and Poor's. Taking into account apoBank's current and planned capital market activities as well as its balance sheet volume and business profile, apoBank decided that one rating assessment will be sufficient for the Bank in future. Therefore, apoBank has terminated its rating contract with Moody's in accordance with the contractual period of notice.

As a result, apoBank and its issues, including its mortgage bond (pfandbrief) issues, will be rated by Standard and Poor's only. Moreover, apoBank is rated by Fitch Ratings within the context of the ratings of the German cooperative banking sector.