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ApoBank ends ratings contract with Moody's

DeutscheApotheker- und Ärztebank eG terminated its ratings contract withMoody's following a review of its ratings relationship with the agency and S&PGlobal Ratings.

ApoBank said May 3 that its current and planned capitalmarket operations, as well as its balance sheet volume and business profile,mean that one rating assessment will be sufficient in the future. S&P willbe the sole ratings provider for the bank, which noted that Fitch Ratings ratesthe lender within the context of its ratings on the German cooperative bankingsector.

S&P Global Ratingsand S&P Global Market Intelligence are owned by S&P Global Inc.