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| Prospect News home > News index > List of issuers D > Headlines for DZ Bank AG Deutsche Zentral-Genossenschaftsbank > News item |
S&P lifts DZ Bank preferreds to AA-
S&P said it raised to AA- from A+ the rating on the senior preferred notes due to be issued by DZ Bank AG (AA-/stable/A-1+) on Aug. 22.
“We originally assigned the A+ rating based on our understanding from the terms and conditions of the note that it would be issued as a senior non-preferred note. However, the bank's updated terms and conditions on this issue have since clarified that this will be a senior preferred note,” S&P said in a news release.
“As this is a senior unsecured issue, we therefore rate it at the same level as the AA- issuer credit rating.”
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