Ratings

Ratings Deutsche Bank AG

Moody's Investors Service

Bank RatingsRatingLast rating changeOutlook
Counterparty Risk

long-term

short-term

A1(cr)

P-1(cr)

October 12, 2022

August 4, 2021

Deposits

long-term

short-term

A1

P-1

October 12, 2022

August 4, 2021

Stable (October 12, 2022)

Issuer Rating long-term A1 October 12, 2022 Stable (October 12, 2022)
Baseline Credit Assessment baa2 October 12, 2022
Issue Ratings
Pfandbrief Aaa
'Preferred' senior unsecured debt(1)

long-term

short-term

A1

P-1

October 12, 2022

August 4, 2021

Stable (October 12, 2022)

'Non-preferred' senior unsecured debt(2) long-term Baa1 October 12, 2022
Non-deferrable dated subordinated (Tier 2) Baa3 October 12, 2022
Additional Tier 1 Ba2 October 12, 2022

(1) Defined as senior unsecured debt rating at Moody‘s

(2) Defined as junior senior unsecured debt rating at Moody's

Latest Reports Moody's
Moody's credit opinion following rating affirmation (June 14, 2024)
Moody's annual update on Deutsche Bank (May 14, 2024)
Moody's comment on Postbank litigation matter (April 29, 2024)

Standard & Poor's

Bank RatingsRatingLast rating changeOutlook
Stand-Alone Credit Profile bbb+ December 8, 2023
Issuer Credit Rating

long-term

short-term

A

A-1

December 8, 2023

December 8, 2023

Stable (December 8, 2023)

Issue Ratings
'Preferred' senior unsecured debt(3) long-term A December 8, 2023
'Non-preferred' senior unsecured debt(4) long-term BBB December 8, 2023
Non-deferrable dated subordinated (Tier 2) BBB- December 8, 2023
Additional Tier 1 BB December 8, 2023

(3) Defined as senior unsecured at S&P

(4) Defined as senior subordinated at S&P

Latest Reports Standard & Poor's
S&P annual update on Deutsche Bank (June 18, 2024)
S&P comment on Postbank litigation matter (April 29, 2024)
S&P issuer comment on Q4 2023 results (February 1, 2024) 

Fitch Ratings

Bank RatingsRatingLast rating changeOutlook
Derivative Counterparty Rating A (dcr) July 3, 2023
Deposits

long-term

short-term

A

F1

July 3, 2023

July 3, 2023

Issuer Default Rating

long-term

short-term

A-

F2

July 3, 2023

June 7, 2019

Stable (July 3, 2023)

Viability Rating a- July 3, 2023
Issue Ratings
'Preferred' senior unsecured debt(5)

long-term

short-term

A

F1

July 3, 2023

July 3, 2023

'Non-preferred' senior unsecured debt(6) long-term A- July 3, 2023
Non-deferrable dated subordinated (Tier 2) BBB July 3, 2023
Additional Tier 1 BB+ July 3, 2023

(5) Defined as senior preferred debt rating at Fitch

(6) Defined as senior non-preferred debt and senior unsecured programme ratings at Fitch

Latest Reports Fitch Rating
Fitch update on Deutsche Bank (July 12, 2024)
Fitch affirms Deutsche Bank ratings, outlook stable (June 20, 2024)
Fitch comment on Postbank litigation matter (April 29, 2024)

DBRS Ratings

Bank RatingsRatingLast rating changeOutlook
Critical Obligations Rating

long-term

short-term

AA (low)

R-1 (middle)

June 29, 2023

September 29, 2015

Positive (June 26, 2024)

Positive (June 26, 2024)

Deposits

long-term

short-term

A

R-1 (low)

June 29, 2023

September 29, 2015

Positive (June 26, 2024)

Positive (June 26, 2024)

Issuer Rating

long-term

short-term

A

R-1 (low)

June 29, 2023

September 29, 2015

Positive (June 26, 2024)

Positive (June 26, 2024)

Intrinsic Assessment A June 29, 2023
Issue Ratings
Senior debt

long-term

short-term

A

R-1 (low)

June 29, 2023

September 29, 2015

Positive (June 26, 2024)

Positive (June 26, 2024)

Senior non-preferred debt long-term A (low) June 29, 2023 Positive (June 26, 2024)


Latest Reports DBRS Ratings
DBRS rating report update (July 2, 2024)
DBRS changes rating trend to positive (June 26, 2024)
DBRS on Q3 2023 results (October 25, 2023)


A credit rating is an assessment of the solvency or credit-worthiness of debitors and/or bond-issuers according to established credit review procedures. These ratings and associated research help investors analyse the credit risks associated with fixed-income securities by providing detailed information of the ability of issuers to meet their obligations. For the issuers of fixed income securities, credit ratings can provide greater market liquidity for their securities and reduced transaction costs. A rating is being continuously monitored. It enables investors to measure their investment risk.

Disclaimer:
The rating agency reports we have compiled constitute publicly accessible information. We have merely chosen to publish them on our website as an additional service for our shareholders and investors. These reports do not necessarily represent the opinion of Deutsche Bank AG, nor should they be seen as a recommendation to buy Deutsche Bank shares. Deutsche Bank accepts no liability for the completeness, timeliness, accuracy or selection of such information.