10 Deutsche Bank AG Letter Of Credit-Supported Bond Issue Ratings Lowered Aug 08

Standard & Poors, August 2008

Abstract
NEW YORK (Standard & Poor's) Aug. 7, 2008--Standard & Poor's Ratings Services today lowered its ratings on 10 Deutsche Bank AG-supported bond issues (see list). The rating actions reflect our Aug. 1, 2008, lowering of Deutsche Bank AG's credit ratings. The ratings on the affected issues are based on Deutsche Bank AG's support for the full and timely payment of interest and principal according to the transactions' terms. For more information, see "Deutsche Bank AG Rating Cut to 'AA-' On Further Markdowns; 'A-1+' Affirmed; Outlook Negative" published Aug. 1, 2008, on RatingsDirect, the real-time Web-based source for Standard & Poor's credit ratings, research, and risk analysis, at www.ratingsdirect.com. RATINGS LOWERED ISSUER RATING TO FROM New Hampshire Bus Fin Auth US$25...

Companies mentioned in this report are:
- New Hampshire Bus Fin Auth
- California Poll Ctl Fin Auth
- Florence Cnty
- Marion Cnty Commission
- 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
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.

- New Hampshire Bus Fin Auth
- California Poll Ctl Fin Auth
- Florence Cnty
- Marion Cnty Commission
- Deutsche Bank AG

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