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Deutsche Bank 'AA-/A-1+' Ratings Affirmed On Acquisition Of A Minority Stake In Postbank Sep 08 Product Image

Deutsche Bank 'AA-/A-1+' Ratings Affirmed On Acquisition Of A Minority Stake In Postbank Sep 08

  • Published: September 2008
  • Standard & Poors

FEATURED COMPANIES

  • Deutsche Bank AG
  • Deutsche Postbank AG
  • MORE

Abstract
FRANKFURT (Standard & Poor's) Sept. 12, 2008--Standard & Poor's Ratings Services said today that it affirmed its 'AA-/A-1+' long- and short-term counterparty credit ratings on Deutsche Bank AG. The outlook remains negative. This action follows today's announcement that Deutsche Bank will acquire 29.75% of Deutsche Postbank AG (A-/Positive/A-2) for a consideration of €2.8 billion. "The acquisition will be prefinanced in large part by an equity issue of up to €2 billion. In addition, Deutsche Bank has a call option to purchase a further 18% stake from the first quarter of 2010, while Deutsche Postbank has a put option to sell its remaining 20% stake to Deutsche Bank starting in the last quarter of 2010," said Standard & Poor's credit analyst...

Companies mentioned in this report are:
- Deutsche Bank AG
- Deutsche Postbank AG

Action: Affirmed
Action: Outlook: Negative

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the READ MORE >

- Deutsche Bank AG
- Deutsche Postbank AG

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