Pfandbrief brushes off Moody’s Landesbank downgrade threat

Ratings uplifts for senior long-term debt issued by German Landesbanks could be a thing of the past, Moody’s has said. For now, covered bond analysts agree that Landesbanks will not be unduly concerned. As long as the domestic bid remains strong, the German Pfandbrief market is unmoved by ratings actions on banks and other asset classes.