Hamburg Commercial Bank terminates rating relationship with S&P Global Ratings

• Focused rating strategy in line with size and business model

Hambrg, December 8, 2022 - Hamburg Commercial Bank (HCOB) has terminated its rating relationship with S&P Global Ratings (S&P). In view of the Bank's size and business model, the Management Board has decided that HCOB will focus on one credit rating going forward.

Following the decision, S&P has today withdrawn its issuer and stand-alone ratings for the bank. HCOB does not have any outstanding debt instruments rated by S&P.

The rating relationship with the internationally renowned risk assessment firm Moody’s will remain, so that HCOB's investors will continue to have access to independent credit assessments and ratings.

The information contained in this press release does not constitute an offer for the sale of any type of Hamburg Commercial Bank AG securities. Securities of Hamburg Commercial Bank AG may not be sold in the United States without registration pursuant to US securities legislation, unless such a sale takes place on the basis of relevant exceptional provisions.

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