Ratings

Current issuer- and issue-ratings

Among the ratings performed by analysts at the registered office of GBB-Rating Gesellschaft für Bonitätsbeurteilung mbH, Kattenbug 1, 50667 Cologne, Germany, the following ones have been published:

Entity	Titel	Rating	Outlook	Date	Analyst	Download/Methodology/Information	Information	Beauftragt	Status	Verlinkung
ALTE LEIPZIGER Bauspar AG	Oberursel, Germany	AAA	stable	3/2/2021	Lehmann	abridged rating report (de) 2.0.00 Issue Rating - Mortgage Pfandbriefe	German Hypotheken-Namenspfandbrief	Yes	Aktuell	Yes
Banco Santander, S.A.	Madrid, Spain	A+	stable	5/19/2021	Hagedorn	Rating report 3.0.04 Banks		Yes	Aktuell	Yes
Bank11 Holding GmbH	Neuss, Germany	A	indeterminate	12/7/2020	Pähler	abridged rating report (de) 3.0.04 Banks		Yes	Aktuell	Yes
Bausparkasse Wüstenrot AG	Salzburg, Austria	A-	stable	12/7/2020	Sauter	3.0.04 Building societies	with support of the rating entity Withdrawal - Rating expired as of 12/07/2020	No	Aktuell	Yes
BHW Bausparkasse AG	Hameln, Germany	A-	stable	12/7/2020	Pflitsch	3.0.04 Building societies		Yes	Aktuell	Yes
Cembra Money Bank AG	Zurich, Switzerland	A	stable	4/26/2021	Stein	rating report (de) 3.0.04 Banks	without support of the rating entity	No	Aktuell	Yes
Clientis AG	Bern, Switzerland	A-	stable	4/26/2021	Gouverneur	Rating Report(de) 3.0.04 Banks	without support of the rating entity	No	Aktuell	Yes
Deutsche Bausparkasse Badenia AG	Karlsruhe, Germany			6/21/2021	Foro	3.0.04 Building Societies	Client would not agree to any further publication	Yes	Aktuell	No
Deutsche Factoring Bank GmbH & Co. KG	Bremen, Germany	A+	stable	8/20/2021	Groos	3.0.05 Banks		Yes	Aktuell	Yes
ETRIS Bank GmbH	Wuppertal, Germany	A+	stable	5/26/2021	Groos	3.0.04 Banks		Yes	Aktuell	Yes
GRENKE AG Konzern	Baden-Baden, Germany	A-	negative	7/1/2021	Weymann	2.3.04 Leasing companies		Yes	Aktuell	Yes
ING Bank N.V.	Amsterdam, Netherlands	A+	indeterminate	1/11/2021	Foro	3.0.04 Banks	entity Withdrawal - Rating expired as of 01/11/2021	Yes	Aktuell	Yes
MLF Mercator-Leasing GmbH & Co. Finanz-KG	Schweinfurt, Germany	AA-	stable	5/19/2021	Wiesel	2.3.03 Leasing companies		Yes	Aktuell	Yes
MMV Gruppe	Koblenz, Germany	A+	indeterminate	3/23/2021	Koll	2.3.03 Leasing companies Entity Withdrawal - Rating expired as of 03/23/2021		Yes	Aktuell	Yes
ODDO BHF Corporates & Markets AG	Frankfurt am Main, Germany	BBB+	indeterminate	7/9/2021	Erven	3.0.05 Banks		Yes	Aktuell	Yes
PSA Bank Deutschland GmbH	Neu-Isenburg, Germany	A	stable	5/19/2021	Küster	Rating Report 3.0.04 Banks		Yes	Aktuell	Yes
SIGNAL IDUNA Bauspar AG	Hamburg, Germany	BBB+	stable	12/7/2020	Sauter	3.0.04 Building societies		Yes	Aktuell	Yes
Süd-West-Kreditbank Finanzierung GmbH	Bingen am Rhein, Germany	A+	stable	7/23/2021	Gouverneur	3.0.05 Banks		Yes	Aktuell	Yes
Tradegate AG, Wertpapierhandelsbank	Berlin, Germany	A+	positive	5/26/2021	Pähler	3.0.04 Banks		Yes	Aktuell	Yes
UmweltBank AG	Nuremberg, Germany	A-	stable	7/9/2021	Pähler	3.0.05 Banks		Yes	Aktuell	Yes
Valiant Bank AG	Bern, Switzerland	A	stable	9/3/2021	Küster	rating report (de) 3.0.05 Banks		No	Aktuell	Yes
VP Bank Group	Vaduz, Liechtenstein	A-	stable	5/19/2021	Stein	Rating Report 3.0.04 Banks	without support of the rating entity	No	Aktuell	Yes

This list serves as publicly available evidence of the currency and validity of published ratings. It contains only the ratings that GBB-Rating has been commissioned to perform and in respect of which permission has been granted for listing and/or publication by the client. The ratings of GBB-Rating are statements of opinion referring to a period of one year or 12 months.