Shipping affects HSH Nordbank's rating
Moody's has downgraded German HSH Nordbank's long and short term rating, says the bank in a statement. The rating bureau is particularly worried about further losses from the bank's shipping portfolio.
BY KATRINE GRØNVALD RAUN
German HSH Nordbank takes yet another hit from its shipping portforlio as Moody's adjusts the bank's rating down a notch, says the bank in a statement on its website. This puts the bank's long term rating at 'Baa3' while its short term rating was also lowered, to 'Prime-3', though with a stable outlook.
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