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Deutsche Bank’s Riskiest Bonds Get Ratings Upgrade at Fitch

  • Ratings firm boosts bank’s Additional Tier 1 notes to BB-
  • Fitch cites improving capital position and earlier bond sales
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Deutsche Bank AG’s improving capital position has prompted Fitch Ratings Inc. to upgrade its riskiest bonds.

Fitch lifted the notes, known as Additional Tier 1s, by one level to BB-, three steps below investment-grade. Risks for holders have reduced due to Deutsche Bank’s “improved capitalization”, according to a statement. The ratings agency also believes that the bank will maintain “a wide enough buffer” over key capital thresholds that enables it to make distributions, such as AT1 coupon payments.