S&P: Deutsche Pfandbriefbank to developing

Standard & Poor's said it revised its outlook on the long-term counterparty credit rating on Deutsche Pfandbriefbank AG to developing from negative.

At the same time, the agency affirmed the bank’s BBB/A-2 counterparty credit ratings, the BB issue ratings on its nondeferrable senior subordinated debt and the D issue rating on its preferred stock.

S&P said the outlook revision reflects uncertainty on the outcome of Deutsche Pfandbriefbank’s reprivatization process, as it currently considers a disposal of Deutsche Pfandbriefbank by the German government in 2015 as equally likely as an orderly wind-down of the bank under government ownership.

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