S&P Global Ratings
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.
For reasons including the measures announced by the Federal Government in connection with the climat action program 2030
and the resulting additional support for DB Group, S&P increased the long-term rating of DB AG from “AA–” to “AA.” The outlook and the short-term rating estimates remained unchanged.
Moody’s has confirmed the ratings. The outlook was adjusted from “stable” to “negative,” mainly as a result of the expectation that the weak key performance figures will continue in the year under review.
Additional information on the subject of rating and the rating agencies’ full analyses of DB AG are available on our Investor Relations Web site.