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Research Update: Deutsche Bank 'A+/A-1' Ratings Affirmed; SACP Lower On Business Concentration; Outlook Stable Sep 10 Product Image

Research Update: Deutsche Bank 'A+/A-1' Ratings Affirmed; SACP Lower On Business Concentration; Outlook Stable Sep 10

  • Published: September 2010
  • Standard & Poors

Abstract
We are affirming the 'A+/A-1' long- and short-term counterparty credit ratings on Deutsche Bank. Revenues are concentrated in investment banking, which we view as inherently more volatile than other business lines. We are lowering our assessment of the stand-alone credit profile (SACP) and the ratings on the bank's junior subordinated debt by one notch to 'BBB' from 'BBB+'. The long-term rating on Deutsche Bank now includes one notch of uplift over the SACP because of our view of its high systemic importance. The stable outlook reflects our expectation that Deutsche Bank's financial performance will remain strong over the medium term. On Sept. 8, 2010, Standard & Poor's Ratings Services affirmed its 'A+/A-1' long- and short-term counterparty credit ratings on Deutsche...

Companies mentioned in this report are:
- Deutsche Bank AG
- Deutsche Bank Capital Funding Trust I
- Deutsche Bank Financial LLC
- Deutsche Bank Capital Funding Trust IV
- Deutsche Bank Capital Funding Trust V
- Deutsche Bank Capital Funding Trust VI
- Deutsche Bank Capital Funding Trust VII
- Deutsche Bank Cap Fdg Trust VIII
- Deutsche Bank Contingent Capital Trust READ MORE >

- Deutsche Bank AG
- Deutsche Bank Capital Funding Trust I
- Deutsche Bank Financial LLC
- Deutsche Bank Capital Funding Trust IV
- Deutsche Bank Capital Funding Trust V
- Deutsche Bank Capital Funding Trust VI
- Deutsche Bank Capital Funding Trust VII
- Deutsche Bank Cap Fdg Trust VIII
- Deutsche Bank Contingent Capital Trust II
- Deutsche Bank Capital Funding Trust IX
- Deutsche Bank AG (Canada Branch)
- Deutsche Bank Capital Funding Trust X
- Deutsche Bank Contingent Capital Trust IV
- Deutsche Bank Contingent Capital Trust III
- Deutsche Bank Contingent Capital Trust V
- Deutsche Bank Capital Funding Trust XI

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