S&P Places Deutsche Bank AG&Units Rtgs on Watch Neg

LONDON -- Standard&Poor's CreditWire 1/28/98 -- Standard&Poor's today placed its triple-'A' long-term counterparty credit and senior unsecured ratings as well as its double-'A'-plus subordinated debt ratings on Deutsche Bank AG and related entities on CreditWatch with negative implications (see table below). The 'A-1'-plus short-term ratings were affirmed The CreditWatch action follows today's announcement by Deutsche Bank to take a DM2.5 billion (US$1.4 billion) restructuring charge in the fiscal year 1997. As part of the restructuring program the bank plans to strengthen its position on the world markets by bundling its activities into five divisions. In future all divisions will operate under the name Deutsche Bank. The bank will also create an additional DM1.4 billion in risk

Ratings Action