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      Instrument data
      Issuer
      BAYERN, FREISTAAT
      Senority
      Senior Unsecured
      Currency
      EUR
      ISIN
      DE0001053940
      Coupon percent
      2.375%
      Coupon type
      Fixed:Plain Vanilla Fixed Coupon
      Instrument volume
      500,000,000
      Maturity date
      21/02/2031
      -
      AAA Outlook: Stable
      AAA Outlook: Stable
      Latest change
      New
      23/10/2025
      General information
      Rating
      Public
      Solicited
      With issuer participation
      UK endorsed
      EU Rated
      Eiko Sievert Lead analyst
      Jakob Suwalski Committee chair
      Scope affirms the Free State of Bavaria’s AAA rating with Stable Outlook

      25/7/2025 Rating announcement EN

      Scope affirms the Free State of Bavaria’s AAA rating with Stable Outlook

      An integrated institutional framework, low debt, ample liquidity, strong budgetary performance and a wealthy economy support the rating. Limited expenditure flexibility, sizeable contingent liabilities, and high pension liabilities are challenges.

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