Research Update: Two Dresdner Bank Hybrid Capital Instruments Cut To 'CC', Other Commerzbank Group Hybrids Cut To 'BB'; Still On WatchNeg - S&P Global Ratings’ Credit Research

Research Update: Two Dresdner Bank Hybrid Capital Instruments Cut To 'CC', Other Commerzbank Group Hybrids Cut To 'BB'; Still On WatchNeg

Research Update: Two Dresdner Bank Hybrid Capital Instruments Cut To 'CC', Other Commerzbank Group Hybrids Cut To 'BB'; Still On WatchNeg - S&P Global Ratings’ Credit Research
Research Update: Two Dresdner Bank Hybrid Capital Instruments Cut To 'CC', Other Commerzbank Group Hybrids Cut To 'BB'; Still On WatchNeg
Published Feb 27, 2009
1680 words — Published Feb 27, 2009
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

On Feb. 27, 2009, Standard&Poor's Ratings Services lowered its ratings on Dresdner Bank AG's €1 billion hybrid Tier 1 capital instruments issued through HT1 Funding GmbH and on the bank's €750 million upper Tier 2 capital instruments issued through UT2 Funding PLC to 'CC' from 'BB+'. At the same time, we lowered the ratings on Dresdner Bank's hybrid Tier 1 capital instruments issued through Dresdner Funding Trust I, II, III, and IV, and on various other junior subordinated Tier 1 instruments related to Commerzbank AG (A/Stable/A-1) and its subsidiary Eurohypo AG (A/Negative/A-1) to 'BB' from 'BB+'. All these issue ratings remain on CreditWatch, where they were placed with negative implications on Jan. 12, 2009. The rating actions follow

  
Brief Excerpt:

RESEARCH Research Update: Two Dresdner Bank Hybrid Capital Instruments Cut To '##', Other Commerzbank Group Hybrids Cut To '##'; Still On WatchNeg Publication date: 27-Feb-2009 Primary Credit Analyst: Bernd Ackermann, Frankfurt (49)...

  
Report Type:

Research Update

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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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Two Dresdner Bank Hybrid Capital Instruments Cut To 'CC', Other Commerzbank Group Hybrids Cut To 'BB'; Still On WatchNeg" Feb 27, 2009. Alacra Store. May 07, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Two-Dresdner-Bank-Hybrid-Capital-Instruments-Cut-To-CC-Other-Commerzbank-Group-Hybrids-Cut-To-BB-Still-On-WatchNeg-705380>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Two Dresdner Bank Hybrid Capital Instruments Cut To 'CC', Other Commerzbank Group Hybrids Cut To 'BB'; Still On WatchNeg Feb 27, 2009. New York, NY: Alacra Store. Retrieved May 07, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Two-Dresdner-Bank-Hybrid-Capital-Instruments-Cut-To-CC-Other-Commerzbank-Group-Hybrids-Cut-To-BB-Still-On-WatchNeg-705380>
  
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