Ratings
Ratings
Ratings Deutsche Bank AG
Moody's Investors Service
| Bank Ratings | Rating | Last rating change | Outlook | |
| Counterparty Risk | A3 | June 13, 2016 | – | |
| Deposits | long-term short-term |
A3 P-2 |
May 23, 2016 May 23, 2016 |
Negative (April 27, 2018) – |
| Issuer Rating | long-term | A3 | August 3, 2018 | Negative (August 3, 2018) |
| Baseline Credit Assessment | ba1 | May 23, 2016 | – | |
| Issue Ratings | ||||
| Pfandbrief | Aaa | – | – | |
| 'Preferred' senior unsecured debt(1) | long-term short-term |
A3 P-2 |
November 21, 2016 May 23, 2016 |
Negative (April 27, 2018) – |
| 'Non-preferred' senior unsecured debt(2) | long-term | Baa3 | August 3, 2018 | – |
| Non-deferrable dated subordinated (Tier 2) | Ba2 | May 23, 2016 | – | |
| Tier 1 | Legacy (Basel 2.5) AT1 (Basel 3) |
B1 B1 |
May 23, 2016 May 23, 2016 |
– – |
(1) Defined as senior unsecured debt rating at Moody‘s
(2) Defined as junior senior unsecured debt rating at Moody's
Latest Reports Moody's
Moody's downgrades Deutsche Bank legacy senior debt to Baa3 following change in bank insolvency law and affirms A3 counterparty and deposit ratings (August 3, 2018)
Moody's on Q2 2018 results (July 25, 2018)
Moody's affirms all Deutsche Bank ratings, changes outlook to negative on A3 rated deposits (April 27, 2018)
Standard & Poor's
| Bank Ratings | Rating | Last rating change | Outlook | |
| Stand-Alone Credit Profile | bbb | November 24, 2015 | – | |
| Issuer Credit Rating | long-term short-term |
BBB+ A-2 |
June 1, 2018 June 9, 2015 |
Stable (June 1, 2018) – |
| Emissionsratings | ||||
| 'Preferred' senior unsecured debt(3) | long-term | BBB+ | June 1, 2018 | – |
| 'Non-preferred' senior unsecured debt(4) | long-term | BBB- | March 28, 2017 | – |
| Non-deferrable dated subordinated (Tier 2) | BB+ | November 24, 2015 | – | |
| Tier 1 | Legacy (Basel 2.5) AT1 (Basel 3) |
B+ B+ |
February 11, 2016 February 11, 2016 |
– – |
(3) Defined as senior unsecured at S&P
(4) Defined as senior subordinated at S&P
Latest Reports Standard & Poor's
S&P on Q2 2018 results (July 25, 2018)
S&P downgraded Deutsche Bank's ICR to BBB+ (June 1, 2018)
S&P full rating report (November 15, 2017)
Fitch Ratings
| Bank Ratings | Rating | Last rating change | Outlook | |
| Derivative Counterparty rating | A- (dcr) | September 28, 2017 |
– |
|
| Deposits | long-term short-term |
A- F2 |
September 28, 2017 September 28, 2017 |
– – |
| Issuer Default Rating | long-term short-term |
BBB+ F2 |
September 28, 2017 September 28, 2017 |
Negative (June 21, 2018) – |
| Viability Rating | bbb+ | September 28, 2017 |
– |
|
| Issue Ratings | ||||
| 'Preferred' senior unsecured debt(5) | A- | September 28, 2017 | – | |
| 'Non-preferred' senior unsecured debt(6) | long-term short-term |
BBB+ F2 |
September 28, 2017 September 28, 2017 |
– – |
| Non-deferrable dated subordinated (Tier 2) | BBB | September 28, 2017 | – | |
| Tier 1 | Legacy (Basel 2.5) AT1 (Basel 3) |
BB BB- |
September 28, 2017 September 28, 2017 |
– – |
(5) Defined as senior preferred debt rating at Fitch
(6) Defined as senior non-preferred debt and senior unsecured programme ratings at Fitch
Latest Reports Fitch Ratings
Fitch on Q2 2018 results (July 25, 2018)
Fitch revises Deutsche Bank's Outlook to Negative; Affirms "BBB+" (June 21, 2018)
DBRS Ratings
| Bank Ratings | Rating | Last rating change | Outlook | |
| Critical Obligations Rating | long-term short-term |
A(high) R-1(middle) |
July 7, 2016 September 29, 2015 |
Negative (May 9, 2018) Stable (June 6, 2017) |
| Deposits | long-term short-term |
A(low) R-1(low) |
July 7, 2016 September 29, 2015 |
Negative (May 9, 2018) Stable (June 6, 2017) |
| Intrinsic Assessment | A (low) | May 9, 2018 | Negative (May 9, 2018) | |
| Issue Ratings | ||||
| Senior debt | long-term short-term |
A(low) R-1(low) |
July 27, 2018 September 29, 2015 |
Negative
(July 27, 2018) Stable (June 6, 2017) |
| Senior non-preferred debt | long-term | BBB(high) | July 27, 2018 | Negative (July 27, 2018) |
Latest Reports DBRS Ratings
DBRS: Senior Debt of 6 German banking groups downgraded by 1 notch with new legislation (July 27, 2018)
DBRS on Q2 2018 results (July 26, 2018)
DBRS rating report on Deutsche Bank AG (May 21, 2018)
A credit rating is an assessment of the solvency or credit-worthiness of debitors and/or bond-issuers according to established credit review procedures. These ratings and associated research help investors analyse the credit risks associated with fixed-income securities by providing detailed information of the ability of issuers to meet their obligations. For the issuers of fixed income securities, credit ratings can provide greater market liquidity for their securities and reduced transaction costs. A rating is being continuously monitored. It enables investors to measure their investment risk.
Disclaimer:
The rating agency reports we have compiled constitute publicly accessible information. We have merely chosen to publish them on our website as an additional service for our shareholders and investors. These reports do not necessarily represent the opinion of Deutsche Bank AG, nor should they be seen as a recommendation to buy Deutsche Bank shares. Deutsche Bank accepts no liability for the completeness, timeliness, accuracy or selection of such information.