LONDON (Standard&Poor's) Sept. 30, 2014--Standard&Poor's Ratings Services today reinstated its issue credit rating on Deutsche Bank AG's €26.5 million nondeferrable subordinated debt issue due Aug. 7, 2024 (ISIN DE000DB7XLU5). We withdrew the previous 'BBB' issue rating in error on Aug. 21, 2014, and have today corrected this by assigning a 'BBB-' rating to the issue. The difference in rating reflects the publication earlier this month of updated criteria for banks' capital instruments (see "Bank Hybrid Capital And Nondeferrable Subordinated Debt Methodology And Assumptions", published on RatingsDirect on Sept. 18, 2014). The 'BBB-' rating assigned to the issue under the updated criteria is two notches below Deutsche Bank's 'bbb+' stand-alone credit profile, consistent with the issue ratings
