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S&P Credit Research642 word report
published May 27, 2009
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S&P Credit Research
| Abstract: | FRANKFURT (Standard&Poor's) May 27, 2009--Standard&Poor's Ratings Services has assigned a preliminary 'AAA' credit rating to the inaugural Hypotheken Pfandbrief (German legislation-enabled mortgage covered bond) issuance to be issued by Deutsche Bank AG (DB; A+/Stable/A-1). The mortgage covered bond will be drawn under DB's €80 billion debt-issuance program. The initial issuance is expected to be €1 billion, and depending on market conditions, is expected to occur in Q2 2009. The mortgage covered bond will constitute a senior-secured unsubordinated obligation and will, once issued, rank pari passu with other obligations secured by the same cover register. The notes and all other documentation relating to the program are governed by German law. German mortgage covered bonds can be backed
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| Brief Excerpt: | RESEARCH Ratings Definitions Preliminary Rating Assigned To Initial Issuance From Deutsche Bank's German Covered Bond Program Publication date: 27-May-2009 Primary Credit Analysts: Karlo Fuchs, Frankfurt (49) 69-33-999-156; karlo_fuchs@standardandpoors....
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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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