S&P downgrades outlook on Deutsche Bank debt to negative
Deutsche Bank was in the midst of a "material" restructuring its business model and its balance sheet, the ratings agency said in a statement issued after the close of trading.
S&P said the negative outlook reflected the possibility of it potentially lowering the long-term issuer credit rating if market conditions challenged the bank's ability to preserve its capital and maintain its franchise, while carrying out its restructuring plans. S&P did reaffirm the bank's issuer credit rating at BBB+/A-2.
It also reaffirmed the BBB+/A2 global scale, CnA+ Greater China regional scale, and trDeutsche Bank/trA-1 Turkey national scale issuer credit ratings. ■