Deutsche Bank, Commerzbank Upgraded by S&P on German Law Change
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Deutsche Bank AG and Commerzbank AG were both upgraded by S&P Ratings, which said a retroactive change to German law will make it safer for senior creditors in the nation’s largest banks.
Deutsche Bank, the nation’s largest lender, was raised one notch to A- from BBB+, as was Commerzbank, according to a statement late Tuesday from S&P. The ratings company also upgraded UniCredit SpA’s German arm and Deutsche Pfandbriefbank AG.