LONDON (Standard&Poor's) Aug. 10, 2001--Standard&Poor's today revised the outlook on its single-'A'-plus long-term and its 'A-1' short-term counterparty credit ratings on Commerzbank AG to negative from stable. At the same time, Standard&Poor's affirmed all its ratings on Commerzbank AG and related entities. The outlook revision reflects Standard&Poor's concerns about Commerzbank's further weakening operating performance and the sustainability of its current market position in light of increased industry risk in the German banking market. Standard&Poor's is also concerned about management's ability and commitment to tackle its cost problem sufficiently, as proposed cost containment measures might not be sufficient. This is against the background of a difficult market environment in most business
