LONDON (Standard & Poor's) April 9, 2002--Standard & Poor's said today that it lowered its rating to 'B-' from 'B+' on the €22.5 million floating-rate class A notes issued by Deutsche Bank AG (AA/Stable/A-1+) under its Repon 14 securitization following an increase in the expected default rate of the reference pool. "The increased default rate was caused by further deterioration in the credit quality of the reference portfolio, reflected in the negative migration of ratings within the portfolio and in particular the lowering of one reference entity's credit rating (representing 0.67% of the pool) to 'CC'," said Paul Stanwix, a credit analyst at Standard & Poor's Structured Finance Ratings group in London. Repon 14 is a partially funded credit default...
Companies mentioned in this report are:
- Deutsche Bank AG
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