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18.03.2021
Creditreform Rating downgraded its solicited SME issue rating of the corporate bond of HFS Helvetic Financial Services AG (HFS) with ISIN DE000A186WC7 from BB+ to BB. The adjustment is based solely on the development of the HFS SME issuer rating with the same determination date. Despite the installed equity covenants, the non-subordinated and unsecured bond has only a small number of creditor protection mechanisms, therefore a negative notching of one notch compared to the unsolicited SME issuer rating was applied. Similar to the SME issuer rating, the rating outlook is stable.
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09.12.2020
Creditreform Rating downgraded its solicited SME issue rating of the corporate bond of HFS Helvetic Financial Services AG (HFS) with ISIN DE000A186WC7 from BBB- to BB+. The adjustment is based solely on the development of the HFS SME issuer rating with the same determination date. Despite the installed equity covenants, the non-subordinated and unsecured bond has only a small number of creditor protection mechanisms, therefore a negative notching of one notch compared to the unsolicited SME Issuer Rating was applied. Similar to the SME issuer rating, the rating outlook is set negative.
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18.12.2019
Creditreform Rating downgraded its solicited corporate issue rating of the corporate bond of HFS Helvetic Financial Services AG (HFS) with ISIN DE000A186WC7 from BBB to BBB-. The adjustment is based solely on the development of the HFS corporate issuer rating with the same determination date. Despite the installed equity covenants, the non-subordinated and unsecured bond has only a small number of creditor protection mechanisms, which is why negative notching was used by a notch compared to the unsolicited corporate issuer rating. Similar to the corporate issuer rating, the rating outlook is set negative.
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19.12.2018
Creditreform Rating has set the rating of the bearer bond of HFS Helvetic Financial Services AG with ISIN DE000A186WC7 unchanged at BBB. Despite the installed equity covenants, the non-subordinated and unsecured bearer bond has only a small number of creditor protection mechanisms, which is why a negative notching by one notch was used compared to the unsolicited corporate issuer rating.