ZCZC
BCN-27
GERMANY-BANKING-DEUTSCHEBANK-RATING
S&P cuts troubled Deutsche’s rating by a notch to BBB+
FRANKFURT AM MAIN, June 1, 2018 (BSS/AFP) – Ratings agency S&P on Friday
downgraded German giant Deutsche Bank’s long-term credit rating from A- to
BBB+, a day after a US banking regulator classified the firm’s American
subsidiary as an at-risk institution.
“We see significant execution risks in the delivery of the (bank’s)
updated strategy amid a continued unhelpful market backdrop, and we think
that, relative to peers, Deutsche Bank will remain a negative outlier for
some time,” Standard & Poor’s said in a statement.
BSS/AFP/HR/1238