LONDON (Standard&Poor's) Jan. 15, 2009--Standard&Poor's Ratings Services said today that it affirmed its 'A+/A-1' counterparty credit ratings on Deutsche Bank AG. The outlook remains stable. "This follows yesterday's announcement that Deutsche Bank suffered a net loss of €4.8 billion in the fourth quarter of 2008. According to the bank, this was mainly attributable to the combination of a substantial deleveraging and reduction in the trading books during a period of extreme volatility, correlation, and basis risk in the capital markets," said Standard&Poor's credit analyst Nick Hill. This had a severe effect on revenues in the global markets activity, particularly in credit trading, equity derivatives, and equity proprietary trading. Outside the global markets business, there
