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Various German Banks' Snr Unsecured Debt Lowered/Affirmed After Notes Review; Off Watch; Four Banks Remain On Watch

Published Feb 09, 2017

9 pages (3309 words) — Published Feb 09, 2017

Price US$ 150.00 | Buy this Report Now

About This Report

Abstract:

OVERVIEW We've reviewed the documentation for each long-term senior unsecured debt instrument we rate that is issued by nine German banks, after placing various issue and issuer credit ratings on CreditWatch on Dec. 15, 2016. As a result, we are lowering our ratings on seven banks' debt that we have reclassified as senior subordinated and affirming our ratings on those banks' instruments we determined to be senior unsecured, while removing all those ratings from CreditWatch negative. Our long-term issuer credit ratings on Commerzbank AG, Deutsche Bank AG, Deutsche Pfandbriefbank AG, and UniCredit Bank AG, and related issue ratings on these banks' long-term senior unsecured debt, remain on CreditWatch pending our review of debt classification and the size and sustainability of

Brief Excerpt:

...OVERVIEW + We've reviewed the documentation for each long-term senior unsecured debt instrument we rate that is issued by nine German banks, after placing various issue and issuer credit ratings on CreditWatch on Dec. 15, 2016. + As a result, we are lowering our ratings on seven banks' debt that we have reclassified as senior subordinated and affirming our ratings on those banks' instruments we determined to be senior unsecured, while removing all those ratings from CreditWatch negative. + Our long-term issuer credit ratings on Commerzbank AG, Deutsche Bank AG, Deutsche Pfandbriefbank AG, and UniCredit Bank AG, and related issue ratings on these banks' long-term senior unsecured debt, remain on CreditWatch pending our review of debt classification and the size and sustainability of the banks' additional loss-absorbing capacity (ALAC). FRANKFURT (S&P Global Ratings) Feb. 9, 2017--S&P Global Ratings today took various actions on its ratings on nine German banks, which do not benefit from...

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

Research Update: German Commerzbank Long-Term Rating Raised To 'A-' On Higher ALAC Buffer; Outlook Neg; Sr Subordinated Debt Cut To 'BBB' – 2017/03/28 – US$ 225.00

Various Rating Actions Taken On Four Systemically Important German Banks On Improved Loss-Absorbing Capacity – 2017/03/28 – US$ 150.00

Commerzbank €30 Million Single Issue Rating (CINS D0552M9B0) Lowered To 'BBB-' On Feb. 3, 2017 – 2017/04/04 – US$ 150.00

Bulletin: Bulletin: Commerzbank €2 Million Single Issue Rating (ISIN DE000CZ433M6) Withdrawn On Feb. 2, 2017 – 2017/04/04 – Free

Commerzbank AG – 2017/04/24 – US$ 500.00

Four German Banks On Watch Positive, Various Banks' Snr Unsecured Debt On Watch Developing Or Neg, Pending Notes Review – 2016/12/15 – US$ 150.00

Ratings On Three Market-Linked Notes Issued By Commerzbank Withdrawn – 2016/12/13 – US$ 150.00

Bulletin: Ratings On Commerzbank Not Immediately Affected By Updated Strategic And Financial Objectives – 2016/09/30 – Free

Commerzbank AG – 2016/03/24 – US$ 500.00

Summary: Commerzbank AG – 2016/03/24 – US$ 225.00

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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Various German Banks' Snr Unsecured Debt Lowered/Affirmed After Notes Review; Off Watch; Four Banks Remain On Watch" Feb 09, 2017. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Various-German-Banks-Snr-Unsecured-Debt-Lowered-Affirmed-After-Notes-Review-Off-Watch-Four-Banks-Remain-On-Watch-1798254>

APA:	S&P Global Ratings’ Credit Research. (). Various German Banks' Snr Unsecured Debt Lowered/Affirmed After Notes Review; Off Watch; Four Banks Remain On Watch Feb 09, 2017. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Various-German-Banks-Snr-Unsecured-Debt-Lowered-Affirmed-After-Notes-Review-Off-Watch-Four-Banks-Remain-On-Watch-1798254>

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