OREANDA-NEWS. Fitch Ratings has affirmed BayernLB's (BLB) mortgage Pfandbriefe rating at 'AAA' with a Stable Outlook. Fitch has subsequently withdrawn the rating.

Fitch has chosen to withdraw the rating on BLB's mortgage Pfandbriefe due to commercial reasons. Fitch will no longer provide rating or analytical coverage of this covered bond programme.

KEY RATING DRIVERS

The rating is based on BayernLB's Long-Term Issuer Default Rating (IDR) of 'A-', an unchanged Discontinuity Cap (D-Cap) of 4 notches (moderate risk), an IDR uplift of 2 notches and the 34.7% over-collateralisation (OC) that Fitch relies upon. The Stable Outlook mirrors that on the bank's Long-Term IDR.

RATING SENSITIVITIES

Not applicable