Arab Today, arab today moodys cuts credit ratings on deutsche bank
Last Updated : GMT 12:02:44
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Moody's cuts credit ratings on Deutsche Bank

Arab Today, arab today

Arab Today, arab today Moody's cuts credit ratings on Deutsche Bank

Moody's cuts credit ratings on Deutsche Bank
New York - QNA

The rating agency Moody's downgraded Deutsche Bank AG’s credit ratings, citing the bank’s challenges in overhauling operations.

    The bank's debt was downgraded late Monday from Baa1 to Baa2, with a stable outlook. A Moody's statement cited weakness in recent earnings reports from Germany's largest bank, as well a wide-ranging overhaul announced last year. 

    Prevailing conditions in the financial industry, including low interest rates and other "operating headwinds", are only complicating Deutsche Bank's streamlining plans, Moody's said.

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