EANS-News: DVB Bank SE discontinues rating contracts with Moody's Investors Service

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Company Information

Frankfurt am Main (euro adhoc) - In June 2012 Moody's Investors
Service (Moody's) took various rating actions on German banks and
their subsidiaries. DVB received a significant rating downgrade of up
to three notches in various rating categories (long-term rating
Baa1/stable outlook), while Standard and Poor's (S&P) upgraded DVB's
long-term counterparty credit rating by one notch to A+/stable
outlook in December 2011 and the ratings by FitchRatings (Fitch)
allocated within the scope of the German Co-operative Financial
Services Network remained unchanged at A+/stable outlook. Thus, the
S&P and Fitch ratings are currently three notches above the Moody's
rating.

After discussing this material discrepancy with investors and
business partners, the Board of Managing Directors decided to
terminate all contracts with Moody's within the given timeframe. The
Bank assumes that Moody's will withdraw all ratings on DVB promptly.

Wolfgang F. Driese, CEO and Chairman of the Board of Managing
Directors, commented on this decision:

"Firstly, we discontinue the rating contracts with Moody's as the
ratings assigned by the agency don't reflect DVB's strong performance
in the international transport finance business anymore:

- we have shown record results amidst the world economic crisis
years; - we have successfully steered the bank through four years of
shipping downturn; - we have proven and reliable access to the
liquidity of the German Co-operative Financial Services Network.

Secondly, the gap of three rating notches between the S&P and Fitch
ratings (A+ level) and the current Moody's rating (Baa1 level) is
hard to justify and difficult to understand for all participants in
the financial and in the transportation markets. This might cause
misconceptions about DVB which we need to avert.

Thirdly, S&P and Fitch are globally reputable agencies, offering
independent credit ratings to our equity and debt investors. In the
end, we came to the conclusion that a third rating is quite
dispensable."

Contact for this press release:
Elisabeth Winter, Manager Investor Relations: +49 69 9750 4329 -
elisabeth.winter@dvbbank.com

Note to Editors:

DVB Bank SE, headquartered in Frankfurt/Main, Germany, is the leading
specialist in the international transport finance business. The Bank
offers integrated financing solutions and advisory services in
respect of Shipping Finance, Aviation Finance, and Land Transport
Finance. The Bank operates out of offices in Frankfurt/Main, Hamburg,
London, Rotterdam, Bergen, Oslo, Piraeus, Zurich, Singapore, Tokyo,
New York and Curaçao. DVB Bank SE is listed at the Frankfurt Stock
Exchange (ISIN: DE0008045501). www.dvbbank.com

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Further inquiry note:
Elisabeth Winter
Investor Relations
Tel: +49 (0)69-97504-329
E-Mail: elisabeth.winter@dvbbank.com

end of announcement euro adhoc
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company: DVB Bank SE
Platz der Republik 6
D-60325 Frankfurt am Main
phone: +49 (0)69 9750-40
FAX: +49 (0)69 9750-4444
mail: info@dvbbank.com
WWW: http://www.dvbbank.com
sector: Banking
ISIN: DE0008045501
indexes:
stockmarkets: free trade: Düsseldorf, Stuttgart, regulated dealing/general
standard: Frankfurt
language: English