Moody’s cuts HSH Schiffspfandbriefe, lowers TPI

HSH Nordbank’s Schiffspfandbriefe have been downgraded by Moody’s from Aaa to Aa3, but the rating agency affirmed the Aaa rating of the bank’s public sector covered bonds. It also lowered the Timely Payment Indicator of the Schiffspfandbriefe.