Fitch withdraws ratings on four Swiss Raiffeisen banks after merger
Consolidation within Switzerland's Raiffeisen banking network is leading to the removal of separate credit coverage for four local lenders. The withdrawals follow their mergers into other rated Raiffeisen Group members, leaving the combined entities under existing group-related ratings.
Highlights
- Fitch withdrew ratings on Raiffeisenbank Balsthal-Laupersdorf, Niederhelfenschwil, Region Burgdorf, and Oberes Emmental after their merger into other Raiffeisen Group entities.
- The merged banks lose standalone status, ending Fitch's separate analytical coverage, with AA-, Stable, and F1+ ratings now applying to the surviving Raiffeisen Group members.
- The move reflects consolidation within Switzerland's regional banking sector, reducing distinct rated entities and focusing Fitch's analysis on larger group structures.
Merger-driven rating withdrawals in Swiss banking
As reported by Fitch Ratings, the four banks' ratings are being withdrawn because they no longer exist as separate legal entities after merging into other rated members of the Raiffeisen Group, which carries ratings of AA-, Stable, and F1+.The affected lenders are Raiffeisenbank Balsthal-Laupersdorf Genossenschaft, Raiffeisenbank Niederhelfenschwil Genossenschaft, Raiffeisenbank Region Burgdorf Genossenschaft and Raiffeisenbank Oberes Emmental Genossenschaft.
Fitch says it will no longer provide ratings or analytical coverage for the merged issuers, reflecting the end of their standalone status within the cooperative banking group.
Implications for Raiffeisen Group coverage
The action does not indicate a new deterioration in the group's credit profile, but instead reflects a structural change in how the merged banks are represented within Fitch's ratings framework.For Switzerland's regional banking sector, the move highlights how mergers among affiliated institutions can reduce the number of separately rated entities while concentrating analytical coverage at the surviving group members.
Our earlier coverage of Fitch’s rating of Hainan Rubber’s proposed subordinated perpetual sustainable securities explained why the notes were positioned below the issuer rating due to their subordinated ranking and the option to defer coupons. We also outlined Fitch’s view on the group’s leverage and liquidity profile, including the role of state support and continued access to funding in underpinning the company’s refinancing plans.
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