The counterparty credit ratings on Germany-based DekaBank Deutsche Girozentrale (DekaBank) are based on the bank's strong position in the domestic mutual-funds market as the central asset manager of the German savings banks sector. With €165 billion in total assets under management on Dec. 31, 2007, DekaBank ranks as the second-largest provider of investment funds in Germany. The bank's well-diversified funds portfolio generates a stable flow of commission income, which Standard&Poor's Ratings Services expects to remain resilient, even if significant fluctuations of capital market conditions and new business were to continue. DekaBank's strong liquidity and capital position also represent a sizable cushion against stress scenarios in its core businesses. The asset quality of the bank's corporate lending portfolio should
