Ratings Affirmed On Deutsche Postbank's Public Sector Covered Bonds

Standard & Poors, April 2010

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 credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
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Abstract
OVERVIEW Today's rating actions follow the application of our revised criteria for assessing asset-liability mismatch risk in covered bonds. We have affirmed and removed from CreditWatch negative our ratings on Deutsche Postbank's public sector covered bonds. We have also assigned a stable outlook to the ratings on these bonds. FRANKFURT (Standard & Poor's) April 22, 2010--Standard & Poor's Ratings Services today affirmed and removed from CreditWatch negative its 'AAA' long-term and 'A-1+' short-term credit ratings on Deutsche Postbank AG's public sector covered bonds (Oeffentliche Pfandbriefe). At the same time, we have assigned a stable outlook to these bonds (see ratings list below). Today's affirmations follow the application of our updated covered bond criteria (see "Revised Methodology And Assumptions For Assessing...

Companies mentioned in this report are: Deutsche Postbank AG
Action: Affirmed
Action: Outlook: Stable
Action: Removed From CreditWatch

Deutsche Postbank AG

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