S&P ups Deutsche Postbank view, instruments

Standard & Poor's said it revised its outlook on Deutsche Postbank AG to positive from negative. The A long-term and A-1 short-term counterparty credit ratings were affirmed.

At the same time, the agency said it raised its issue ratings on Postbank's hybrid capital instruments to BBB from BB and affirmed the BBB+ issue ratings on Postbank's nondeferrable senior subordinated debt.

The agency said the outlook revision reflects the possibility that it may reclassify Postbank's group status as core instead of highly strategic within the next 6 to 12 months. S&P said it would then equalize the ratings on Postbank with those on Deutsche Bank AG, in line with its group rating methodology.

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