Thomson Financial BankWatch issued its opinion and revised ratings following the merger of Deutsche Bank and Bankers Trust Corporation. The ratings are: Deutsche Bank Short-Term Debt Rating; Affirmed at TBW-1, Senior Debt Rating; Downgraded to AA from AA+. Bankers Trust Corporation Short-Term Debt Rating ; Affirmed at TBW-1, Senior Debt Rating; Upgraded to AA from A, Subordinated Debt Rating; Upgraded to AA- from A-. Sharon Haas, Executive Vice President with Thomson Financial BankWatch, says, ‘The rationale for the lowering of Deutsche Bank’s Senior Debt Rating predominantly rests on the bank’s continued poor profitability, high cost base and low capital levels, compounded by the short term impact of integrating Bankers Trust and the expectations that the group will continue to expand via acquisition.’
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