LONDON (Standard&Poor's) Oct. 29, 2015--Standard&Poor's Ratings Services said today that its ratings on Deutsche Bank AG (BBB+/Stable/A-2) are not immediately affected by the bank's announcements on its revised strategy and third-quarter earnings. As we had expected, the main features of the new strategy include a significant reduction in investment bank assets, material cost cuts, and the deconsolidation of Deutsche Postbank. The plan runs for five years, with the majority of the targeted progress expected in 2016-2018. Rather than raising further capital, Deutsche Bank intends to strengthen its regulatory capital and leverage ratios by canceling equity dividends for the 2015-2016 financial years and deleveraging its balance sheet. The bank reported a €6.1 billion pretax loss for the
