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Various Commerzbank, Dresdner, And Eurohypo Hybrid Capital Instruments Cut To 'CCC' And Kept On Watch Negative

Published May 11, 2009

1317 words — Published May 11, 2009

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Abstract:

FRANKFURT (Standard&Poor's) May 11, 2009--Standard&Poor's Ratings Services said today it lowered its issue ratings on various Tier 1 hybrid capital instruments issued by Germany-based Commerzbank AG (A/Stable/A-1) and related entities to 'CCC' from 'BB'. The instruments affected were issued by Commerzbank Capital Funding Trust I, II, and III (Commerzbank FTs), Dresdner Capital Funding Trust I, II, III, and IV (Dresdner FTs), and by Eurohypo Capital Funding Trust I and II (Eurohypo FTs). All of these issue ratings remain on CreditWatch, where they were placed with negative implications on Jan. 12, 2009. The 'C' ratings on Dresdner Bank's hybrid capital instruments, issued by HT1 Funding GmbH and UT2 Funding PLC, are unchanged. These rating actions follow the

Brief Excerpt:

RESEARCH Various Commerzbank, Dresdner, And Eurohypo Hybrid Capital Instruments Cut To '###' And Kept On Watch Negative Publication date: 11-May-2009 Primary Credit Analyst: Stefan Best, Frankfurt (49) 69-33-999-154; stefan_best@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:

PDF

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Research Update: Commerzbank AG And Dresdner Bank AG Outlooks To Negative On Worsening Credit Conditions; 'A/A-1' Ratings Affirmed – 2009/05/12 – US$ 225.00

Commerzbank AG Dresdner Funding Trust II Hybrid Capital Rating Raised To 'BBB+' On Redemption Announcement – 2009/06/09 – US$ 150.00

Commerzbank AG – 2009/07/01 – US$ 500.00

Summary: Commerzbank AG – 2009/07/01 – US$ 225.00

Two Dresdner Bank Hybrid Capital Instruments Cut To 'CC', Other Commerzbank Group Hybrids Cut To 'BB'; Still On WatchNeg – 2009/02/27 – US$ 150.00

Research Update: Two Dresdner Bank Hybrid Capital Instruments Cut To 'CC', Other Commerzbank Group Hybrids Cut To 'BB'; Still On WatchNeg – 2009/02/27 – US$ 225.00

Summary: Commerzbank AG – 2009/01/29 – US$ 225.00

Issue Ratings Lowered On Hybrid Instruments Of Some European Banks On Heightened Deferral Risk – 2009/01/28 – US$ 150.00

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MLA:	S&P Global Ratings’ Credit Research. "Various Commerzbank, Dresdner, And Eurohypo Hybrid Capital Instruments Cut To 'CCC' And Kept On Watch Negative" May 11, 2009. Alacra Store. May 07, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Various-Commerzbank-Dresdner-And-Eurohypo-Hybrid-Capital-Instruments-Cut-To-CCC-And-Kept-On-Watch-Negative-721045>

APA:	S&P Global Ratings’ Credit Research. (). Various Commerzbank, Dresdner, And Eurohypo Hybrid Capital Instruments Cut To 'CCC' And Kept On Watch Negative May 11, 2009. New York, NY: Alacra Store. Retrieved May 07, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Various-Commerzbank-Dresdner-And-Eurohypo-Hybrid-Capital-Instruments-Cut-To-CCC-And-Kept-On-Watch-Negative-721045>

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