The rating agency S&P Global today affirmed all ratings of Deutsche Bank AG “on early progress in restructuring” following our Investor Deep Dive on 10 December. S&P confirmed Deutsche Bank´s rating outlook as “stable”.
S&P’s long-term and short-term issuer credit ratings for Deutsche Bank remain at BBB+/A-2.
S&P sees the bank’s transformation goals as positive: “We continue to see management's desired result as ultimately more supportive of Deutsche Bank's creditworthiness: a leading, less-leveraged and well-controlled European bank, with focused global reach, that covers its cost of capital, aided by a greater weight of s table revenues, significant contributions from all divisions, and scalable infrastructure.”
S&P noted that, at last week’s Investor Deep Dive, “…management set a positive tone on initial progress, and provided further detail about the range of measures across the three largest divisions - Private Bank, Corporate Bank, and Investment Bank - that they expect to deliver a marked rise in efficiency and profitability through 2022.”