Frankfurt am Main, January 27, 2016 -- Moody's Investors Service has today upgraded to Aa1 from Aa2 the ratings on the mortgage covered bonds issued by Hypothekenbank Frankfurt AG (the issuer/Hypothekenbank Frankfurt, deposits A2 stable; adjusted baseline credit assessment baa3; Counterparty Risk Assessment (CR Assessment) A2(cr)). The upgrade of the mortgage covered bond ratings follows Moody's upgrade of the issuer's CR assessment to A2 from A3.

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