The commentary came as researchers from Moody’s Investor Service trimmed the ailing German lender’s standalone bank financial strength rating (BFSR) from “E+” to “E”, a grade it likened to a credit assessment of “Caa2”.
“The downgrade of HSH's standalone BFSR reflects Moody's view that renewed capital support will be needed and forthcoming to help the bank stabilise and rebuild its core franchises while at the same time executing its deleveraging plan,” they said.
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