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Bulletin: Deutsche Bank Ratings Remain Unchanged Following The Announcement Of A U.S. Civil Suit Against Mortgage Subsidiary May 11
Standard & Poors, May 2011
Abstract
PARIS (Standard & Poor's) May 4, 2011--Standard & Poor's Ratings Services said today that its ratings on Deutsche Bank AG (A+/Stable/A-1) remain unchanged following the announcement of a U.S. Justice Department lawsuit against one of the bank's U.S. subsidiaries. The U.S. Justice Department (DOJ) yesterday filed a civil suit against MortgageIT, Inc., a U.S. mortgage originator that Deutsche Bank acquired in January 2007. Standard & Poor's believes that the lawsuit's potential financial impact on Deutsche Bank should be manageable in light of our expectations of the bank's significant consolidated earnings over the medium term. The reputational impact could be greater than the financial impact, but this should be limited as well. The underwriting standards of most private and public sector...
Companies mentioned in this report are: Deutsche Bank AG
Action: Bulletin
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
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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