Fitch lowers DB Taipei notes

Fitch Ratings said it downgraded the national long-term rating on Deutsche Bank AG Taipei Branch’s (DB Taipei) outstanding NT$1 billion October 2019 senior unsecured notes to AA+(twn) from AAA(twn) following the May 19 downgrade of Deutsche Bank AG/

The rating on DB Taipei’s bonds is aligned with Deutsche Bank’s long-term issuer default rating of A, which is equivalent to AA+(twn) on the national rating scale, Fitch said.

This is based on the agency’s rating criteria on senior bond instruments of financial institutions, Fitch said.

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