...FRANKFURT (S&P Global Ratings) April 4, 2017---S&P Global Ratings withdrew on Feb. 2, 2017, its issue rating on Commerzbank AG's 2 million commodity-linked medium-term note due Jan. 30, 2018 (ISIN DE000CZ433M6). The withdrawal of this issue rating did not imply any change in the credit quality of the issuer, whose other rated debt issues were not affected by this action. Due to an error, we previously assigned a senior unsecured rating to this note, but in order to be rateable, it must be a credit-based instrument as defined in, and as required under the imputed promises criteria "Principles For Rating Debt Issues Based On Imputed Promises," published Dec. 19, 2014, on RatingsDirect. Since the principal amount that will be repaid on the notes is linked to the performance of Brent crude oil-futures, it is not a credit-based instrument, and therefore, is not rateable under our imputed promises criteria. Accordingly, we have withdrawn our rating on the notes....
