Fitch cuts DüssHyp on sale, cites Pfandbrief support
Fitch on Friday downgraded Düsseldorfer Hypothekenbank from A- to BBB- because of a change of ownership, from Bundesverband deutscher Banken to US-based investment firm Lone Star. However, as a Pfandbrief issuer, the bank should benefit from strong systemic support, the rating agency said.
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