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S&P withdraws ratings of Germany-based WL Bank

S&P Global Ratings on July 27 withdrew the AA-/A-1+ long- and short-term issuer credit ratings of Westfälische Landschaft Bodenkreditbank AG, following the bank's merger with DG Hypothekenbank AG.

Prior to withdrawal, the rating carried a stable outlook.

The agency also affirmed the long- and short-term issuer credit ratings of DG Hyp, now DZ HYP AG, at AA-/A-1+. The outlook is stable, reflecting that on the German cooperative banking sector. S&P expects DZ HYP's ratings to remain consistent with its assessment of the sector's group credit profile.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings.