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S&P Credit Research999 word report
published Aug 01, 2008
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S&P Credit Research
| Abstract: | FRANKFURT (Standard&Poor's) August 1, 2008--Standard&Poor's Ratings Services said today it lowered its long-term counterparty credit rating on Germany-based Deutsche Bank AG and various core operating entities to 'AA-' from 'AA'. At the same time the 'A-1+' short-term ratings were affirmed. The outlook on all entities is negative. This rating action follows the company's announcement of additional write-downs and impairment charges totaling €2.3 billion for second-quarter 2008, which led to a low group pretax profit of €642 million. This included a €311 million loss at the bank's Corporate Banking&Securities division (CB&S), which handles its securities and investment banking business. "The downgrade reflects that we no longer consider Deutsche Bank's performance to be materially stronger than
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| Brief Excerpt: | RESEARCH Ratings Definitions Deutsche Bank AG Rating Cut To '##-' On Further Markdowns; 'A-1+' Affirmed; Outlook Negative Publication date: 01-Aug-2008 Primary Credit Analyst: Bernd Ackermann, Frankfurt (49) 69-33-999-153; bernd_ackermann@standardandpoo...
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| Report Type: | Ratings Action
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| Ticker: | DBK@GR
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| Issuer: | Deutsche Bank AG
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| GICS: | Diversified Capital Markets (40203030)
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| Sector: | Global Issuers, Public Finance, Structured Finance
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| Country: | Germany
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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