Moody's Upgrades OLB's Ratings to A3

Moody's Investors Service has upgraded the ratings of Oldenburgische Landesbank AG (OLB) from Baa1 to A3, concluding its review for a potential upgrade. This follows the recent acquisition of OLB by Crédit Mutuel Alliance Fédérale through TARGO Deutschland GmbH. The outlook for OLB has been adjusted to 'positive', a reflection of the bank's robust financial position and asset quality resilience amid economic challenges.

Dr. Rainer Polster, CFO of OLB, attributes this upgrade to successful strategic initiatives and integration into the Crédit Mutuel Alliance. Moody's anticipates further strength driven by OLB's focus on risk management, profitability, and liquidity, enhancing value for customers and stakeholders.