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S&P Credit Research999 word report
published Aug 01, 2008
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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
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...
Report Type: News
Ticker: DBK@GRIssuer: Deutsche Bank AGGICS: Diversified Capital Markets (40203030)Sector: Global Issuers, Public Finance, Structured FinanceCountry: GermanyRegion: United StatesFree Sample: Click
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S&P Credit ResearchS&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.
