Fitch acts on German banks

Fitch Ratings said it took ratings actions on six German banking groups following the coronavirus disruption. Fitch affirmed the long-term issuer default ratings of Sparkassen-Finanzgruppe (Sparkassen) and Sparkassen-Finanzgruppe Hessen-Thueringen and has revised the outlooks on both groups to negative.

Fitch also placed the long-term IDR of Deutsche Bank AG on rating watch negative and downgraded the long-term IDR of Commerzbank AG to BBB from BBB+. The outlook on Commerzbank remains negative. The long-term IDR of Unicredit Bank AG was affirmed with a negative outlook.

Fitch said it downgraded Aareal Banking Group to BBB+ to reflect the coronavirus disruption.

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