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S&P Rates DG Bank's Covered Bonds 'AAA'.

LONDON, May 17 /PRNewswire/ -- Standard & Poor's today assigned its triple-'A' long-term rating to the Gedeckte Schuldverschreibungen (covered bonds) issued by DG Bank Deutsche Genossenschaftsbank AG (DG Bank). Standard & Poor's has not assigned counterparty credit ratings to DG Bank.

The rating on DG Bank's covered bonds primarily reflects their collateral, coupled with the protections afforded by German insolvency and banking laws. The covered bonds are similar to Pfandbriefe, which are issued by other German financial institutions. DG Bank maintains a segregated, revolving pool of assets on which the holders of covered bonds have a preferential claim. The amount of ...

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