Frankfurt am Main, June 23, 2015 -- Moody's Investors Service has today upgraded the ratings of 11 German covered bonds, by up to two notches, following the assignment of Counterparty Risk (CR) Assessments to the relevant issuers (see press releases "Moody's concludes reviews on 9 German public-sector banks' ratings; takes action on another 6 banks' ratings" and "Moody's concludes reviews on eight German commercial banking groups' ratings" published 19 June 2015), concluding their reviews initiated on 17 March 2015.

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