Ratings On Three Market-Linked Notes Issued By Commerzbank Withdrawn - S&P Global Ratings’ Credit Research

Ratings On Three Market-Linked Notes Issued By Commerzbank Withdrawn

Ratings On Three Market-Linked Notes Issued By Commerzbank Withdrawn - S&P Global Ratings’ Credit Research
Ratings On Three Market-Linked Notes Issued By Commerzbank Withdrawn
Published Dec 13, 2016
4 pages (1624 words) — Published Dec 13, 2016
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

FRANKFURT (S&P Global Ratings) Dec. 13, 2016--S&P Global Ratings today withdrew its ratings on three market-linked notes (MLNs) issued by Germany-based Commerzbank AG, due to a misapplication of the "General Criteria: Principles For Rating Debt Issues Based On Imputed Promises" criteria. The withdrawal of these issue ratings does not imply any change in the credit quality of the issuing bank, whose other rated debt issues are not affected by today's action. This rating action follows our review of market-linked securities that have provisions that could lead to the early redemption of the instruments at below par value (as indicated in "FAQs On Early Redemption Features And Negative Interest Rates Are Added to Imputed Promises Criteria," published Nov. 3, 2016, on

  
Brief Excerpt:

...FRANKFURT (S&P Global Ratings) Dec. 13, 2016--S&P Global Ratings today withdrew its ratings on three market-linked notes (MLNs) issued by Germany-based Commerzbank AG, due to a misapplication of the "General Criteria: Principles For Rating Debt Issues Based On Imputed Promises" criteria. The withdrawal of these issue ratings does not imply any change in the credit quality of the issuing bank, whose other rated debt issues are not affected by today's action. This rating action follows our review of market-linked securities that have provisions that could lead to the early redemption of the instruments at below par value (as indicated in "FAQs On Early Redemption Features And Negative Interest Rates Are Added to Imputed Promises Criteria," published Nov. 3, 2016, on RatingsDirect.) The aforementioned FAQ on our imputed promises criteria does not constitute a change to the criteria article methodology or its assumptions. In the FAQ (paragraphs 64-66 of the criteria article), we clarify how...

  
Report Type:

Ratings Action

Ticker
CBK@GR
Issuer
Commerzbank AG
GICS
Diversified Banks (40101010)
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. "Ratings On Three Market-Linked Notes Issued By Commerzbank Withdrawn" Dec 13, 2016. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Ratings-On-Three-Market-Linked-Notes-Issued-By-Commerzbank-Withdrawn-1772975>
  
APA:
S&P Global Ratings’ Credit Research. (). Ratings On Three Market-Linked Notes Issued By Commerzbank Withdrawn Dec 13, 2016. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Ratings-On-Three-Market-Linked-Notes-Issued-By-Commerzbank-Withdrawn-1772975>
  
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