COREALCREDIT BANK AG / Key word(s): Miscellaneous 24.08.2011 12:32 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- COREALCREDIT BANK AG is cancelling its rating agreement with Fitch for public-sector Pfandbriefe with immediate effect. Since 2006 COREALCREDIT BANK AG has concentrated exclusively on commercial real estate financing in Germany as its core business; the public-sector financing business and consequently the issue of public-sector Pfandbriefe were discontinued at the same time. Accordingly, in the course of several repurchase programmes and due to natural Pfandbrief maturities the Bank has substantially reduced the amount of its public-sector Pfandbriefe in circulation to a current value of EUR 1.5bn, compared to EUR 26.5bn as at the end of 2005. In view of the small remaining volume and the fact that this product has not been issued since 2006, the Bank will in future forego having its public-sector Pfandbriefe rated by an external rating agency. The remaining cover assets will continue to be of high quality. As an additional signal of quality, the Bank increased its voluntary commitment of overcollateralisation over and above the statutory requirement to 10.6 per cent. The voluntary nominal overcollateralisation of 13.0 per cent for mortgage Pfandbriefe continues to apply, and these will continue to be rated. COREALCREDIT BANK AG will continue to maintain the good quality and transparency of its cover pool in future. --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: Please find a register of all listed securities of COREALCREDIT BANK AG on our website http://www.corealcredit.de/upload/wertpapiere/Wertpapierliste.pdf Contact: Dr. Leo Cremer Tel.: +49 (0)69 7179 -665 Fax: +49 (0)69 27179 -665 leo.cremer@corealcredit.de 24.08.2011 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: COREALCREDIT BANK AG Grüneburgweg 58-62 60322 Frankfurt am Main Germany Phone: 069 / 7179 - 543 Fax: 069 / 27179 - 543 E-mail: axel.leupold@corealcredit.de Internet: www.corealcredit.de ISIN: DE0008103094, DE0005169734, DE0005169759, DE0008103037, DE0008103045, DE0008103078 WKN: 810309 Listed: Regulierter Markt in Düsseldorf; Freiverkehr in Stuttgart; Open Market in Frankfurt End of Announcement DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: COREALCREDIT BANK AG: COREALCREDIT foregoes external rating for maturing public-sector Pfandbriefe
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