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Article: Deutsche Bank & Units Ratings Cut; Outlook Negative; Off S&PWatch
- Article from:
- PR Newswire
- Article date:
- August 26, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LONDON, Aug. 26 /PRNewswire/ -- Standard & Poor's today lowered to double-'A'-plus from triple-'A' its counterparty credit and senior unsecured debt ratings of Deutsche Bank AG and related entities (see list below). The outlook is negative. The 'A-1'-plus ratings were affirmed. At the same time, the ratings were removed from CreditWatch where they were placed with negative implications Jan. 28, 1998.
The downgrade reflects Standard & Poor's view of Deutsche Bank's problems to successfully integrate its investment and commercial banking activities, and the failure of a substantial improvement of its profitability and capitalization levels over recent years. While ...