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Rating Lowered on Deutsche Bank's Repon 14 A Notes as Reference Pool Credit Quality Falls Apr 02

  • ID: 2031341
  • April 2002
  • Standard & Poors
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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

Action: Downgraded

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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- Deutsche Bank AG

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