S&P Corrects Rating On Dresdner Funding Trust I Junior Subordinated Debt By Lowering It To 'CCC' - S&P Global Ratings’ Credit Research

S&P Corrects Rating On Dresdner Funding Trust I Junior Subordinated Debt By Lowering It To 'CCC'

S&P Corrects Rating On Dresdner Funding Trust I Junior Subordinated Debt By Lowering It To 'CCC' - S&P Global Ratings’ Credit Research
S&P Corrects Rating On Dresdner Funding Trust I Junior Subordinated Debt By Lowering It To 'CCC'
Published Dec 01, 2011
955 words — Published Dec 01, 2011
Price US$ 150.00  |  Buy this Report Now

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Abstract:

FRANKFURT (Standard&Poor's) Dec. 1, 2011--Standard&Poor's Ratings Services today lowered its issue rating to 'CCC' from 'BBB-' on the US$1 billion, 8.151% silent partnership certificate hybrid capital instrument due June 30, 2031, issued by Dresdner Funding Trust I. Due to an administrative error, the rating on these instruments was raised to 'BBB-' on Nov. 29, 2011, whereas the rating should have been affirmed at 'CCC', as indicated in the ratings list in our rating action on Commerzbank AG on Nov. 29, 2011. RELATED CRITERIA AND RESEARCH Commerzbank And Core Subsidiaries 'A/A-1' Ratings Affirmed On Bank Criteria Change; Outlook Negative, Nov. 29, 2011 Principles Of Credit Ratings, Feb. 16, 2011

  
Brief Excerpt:

RESEARCH S&P Corrects Rating On Dresdner Funding Trust I Junior Subordinated Debt By Lowering It To '###' Publication date: 01-Dec-2011 Primary Credit Analyst: Harm Semder, Frankfurt (49) 69-33-999-158; harm_semder@standardandpoors.com...

  
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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MLA:
S&P Global Ratings’ Credit Research. "S&P Corrects Rating On Dresdner Funding Trust I Junior Subordinated Debt By Lowering It To 'CCC'" Dec 01, 2011. Alacra Store. May 08, 2025. <http://www.alacrastore.com/s-and-p-credit-research/S-P-Corrects-Rating-On-Dresdner-Funding-Trust-I-Junior-Subordinated-Debt-By-Lowering-It-To-CCC-918544>
  
APA:
S&P Global Ratings’ Credit Research. (). S&P Corrects Rating On Dresdner Funding Trust I Junior Subordinated Debt By Lowering It To 'CCC' Dec 01, 2011. New York, NY: Alacra Store. Retrieved May 08, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/S-P-Corrects-Rating-On-Dresdner-Funding-Trust-I-Junior-Subordinated-Debt-By-Lowering-It-To-CCC-918544>
  
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