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S&P Corrects By Withdrawing Rating On DZ BANK's Series 7293 Issuance Following Administrative Error Nov 10 Product Image

S&P Corrects By Withdrawing Rating On DZ BANK's Series 7293 Issuance Following Administrative Error Nov 10

  • Published: November 2010
  • Standard & Poors

Abstract
OVERVIEW Due to an administrative error, we assigned our 'AAA' covered bond rating and stable outlook to an issuance that is not a covered bond. We have now withdrawn the rating on DZ BANK's €25 million series 7293 issuance. FRANKFURT (Standard & Poor's) Nov. 8, 2010--Standard & Poor's Ratings Services has withdrawn its 'AAA' rating on Deutsche Zentral-Genossenschaftsbank AG's (DZ BANK) €25 million series 7293 issuance. The outlook at the time of withdrawal was stable. Due to an administrative error, we assigned a 'AAA' rating and stable outlook to DZ BANK's €25 million 3.57% series 7293, which is a structured note rather than a covered bond. We have now withdrawn the rating on this series and have corrected this in...

Companies mentioned in this report are:
- DZ BANK AG Deutsche Zentral-Genossenschaftsbank

Action: Withdrawn

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 READ MORE >

- DZ BANK AG Deutsche Zentral-Genossenschaftsbank

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