Following a review under Standard&Poor's revised bank criteria (published on Nov. 9, 2011), we have affirmed our 'A/A-1' ratings on Germany-Based DekaBank Deutsche Girozentrale and revised the outlook to stable from negative. Our ratings on DekaBank reflect our 'a-' anchor for German banks, as well as Dekabank's moderate business position, adequate capital and earnings, moderate risk position, average funding, and adequate liquidity. The ratings on DekaBank benefit from a three-notch uplift for potential support from its owners, the German savings banks, in a crisis. The stable outlook reflects our view that DekaBank's credit quality will remain unchanged over the next one to two years As we previously announced on Dec. 8, 2011, Standard&Poor's Ratings Services affirmed
