2017 Integrated Report – Departure into a new era

Ratings stable


Ratings DB AG

First
issued

Last con-
firmed

Current ratings

Short-
term

Long-
term

Outlook

S&P Global Ratings

May 16,
2000

July 15,
2016

A–1+

AA–

Stable

Moody’s

May 16,
2000

Septem-

ber 28,
2015

P–1

Aa1

Stable

The creditworthiness of DB Group is constantly monitored and assessed by the rating agencies S&P Global Ratings (S&P) and Moody’s. Credit ratings provide an independent, up-to-date assessment of a companyʼs creditworthiness. When determining ratings for DB AG, the ownership structure means that the rating agencies take into account not only the quantitative and qualitative analysis of DB Group but also an assessment of the relationship with our owner, the Federal Government, and the potential support that DB AG could receive from it. This means that the ratings given to the Federal Government are also significant for the ratings given to DB AG.

Both agencies published updates to their assessments of DB AG during the year under review, leaving the ratings and outlook unchanged.

Further information on the subject of ratings and the rating agencies’ full analyses of DB AG are available on our Investor Relations page.

Further reading