FRANKFURT (Standard&Poor's) April 1, 2008--Standard&Poor's Ratings Services said today that its ratings on Deutsche Bank AG (AA/Negative/A-1+) and its rated subsidiaries are not affected by the company's estimate of first-quarter markdowns in the region of €2.5 billion announced today. However, the announcement highlights the potential for pressure on the ratings on Deutsche Bank from its sizable leveraged finance backlog, which, among other factors, led to the outlook revision to negative from stable on Jan. 30, 2008 (for more information, see article titled "Outlooks Revised On Various European Banks Due To Continued Capital Market Weakness"). The markdowns will also have to be reviewed in light of the group's first-quarter results, which will be published on April 29,
