Moody's ups Deutsche Bank’s long-term ratings

Moody's Investors Service said it upgraded by one notch all long-term ratings and rating assessments of Deutsche Bank AG.

The bank's long-term deposit ratings have been upgraded to A1 from A2 and its long-term senior unsecured debt ratings have been upgraded to A1 from A2.

The outlook on the long-term deposit and senior unsecured debt ratings has been changed to stable from positive.

The rating agency further upgraded Deutsche Bank’s junior senior unsecured debt ratings to Baa1 from Baa2 as well as its baseline credit assessment to baa2 from baa3 and has affirmed the bank's short-term ratings at P-1.

“The one-notch upgrade of the BCA takes account of DB's progress towards meeting its medium-term targets, in particular by being able to sustain improved, yet still relatively modest, profitability,” Moody’s said in a news release.

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