Issue Ratings On Two Deutsche Bank Fund-Linked Notes Withdrawn - S&P Global Ratings’ Credit Research

Issue Ratings On Two Deutsche Bank Fund-Linked Notes Withdrawn

Issue Ratings On Two Deutsche Bank Fund-Linked Notes Withdrawn - S&P Global Ratings’ Credit Research
Issue Ratings On Two Deutsche Bank Fund-Linked Notes Withdrawn
Published Feb 10, 2017
3 pages (1266 words) — Published Feb 10, 2017
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

LONDON (S&P Global Ratings) Feb. 10, 2017--S&P Global Ratings today withdrew its issue ratings on two fund-linked notes issued by Deutsche Bank AG's London branch (ISINs XS0376998885 and XS0408642618) due to a misapplication of its criteria titled "Principles For Rating Debt Issues Based On Imputed Promises" published Dec. 19, 2014. At the time of the withdrawal, the 'BBB+' issue ratings on the notes were on CreditWatch with developing implications. The withdrawal of these issue ratings does not imply any change in the credit quality of the issuer, and its other rated debt issues are not affected by today's action. We do not consider the notes to be credit-based instruments as defined in, and as required under, the imputed promises criteria

  
Brief Excerpt:

...LONDON (S&P Global Ratings) Feb. 10, 2017--S&P Global Ratings today withdrew its issue ratings on two fund-linked notes issued by Deutsche Bank AG's London branch (ISINs XS0376998885 and XS0408642618) due to a misapplication of its criteria titled "Principles For Rating Debt Issues Based On Imputed Promises" published Dec. 19, 2014. At the time of the withdrawal, the '###+' issue ratings on the notes were on CreditWatch with developing implications. The withdrawal of these issue ratings does not imply any change in the credit quality of the issuer, and its other rated debt issues are not affected by today's action. We do not consider the notes to be credit-based instruments as defined in, and as required under, the imputed promises criteria because the principal amount that will be repaid on the notes is linked to the performance of a fund that could include equity and foreign exchange instruments. In addition, the notes contain an early redemption option that is not consistent with our...

  
Report Type:

Ratings Action

Ticker
DBK@GR
Issuer
Deutsche Bank AG
GICS
Diversified Capital Markets (40203030)
Sector
Global Issuers, Public Finance, Structured Finance
Country
Germany
Region
United States
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Issue Ratings On Two Deutsche Bank Fund-Linked Notes Withdrawn" Feb 10, 2017. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Issue-Ratings-On-Two-Deutsche-Bank-Fund-Linked-Notes-Withdrawn-1798667>
  
APA:
S&P Global Ratings’ Credit Research. (). Issue Ratings On Two Deutsche Bank Fund-Linked Notes Withdrawn Feb 10, 2017. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Issue-Ratings-On-Two-Deutsche-Bank-Fund-Linked-Notes-Withdrawn-1798667>
  
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