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Credit raters put pressure on Deutsche Bank over new strategy

Reuters  |  FRANKFURT 

By Tom SimsFRANKFURT (Reuters) - Deutsche Bank's new chief executive Christian Sewing needs to come up with a convincing strategy swiftly to stave off the threat of costly credit downgrades, the leading rating agencies told Reuters.Standard & Poor's is expected to say by the end of the month whether it will cut the rating of Germany's largest lender after putting it on "credit watch" in April.Chances of a downgrade are "at least 50 percent", Giles Edwards, S&P's lead ratings analyst on Deutsche Bank, said in an interview with Reuters.S&P, like its counterparts Moody's and Fitch, is awaiting ...

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First Published: Mon, May 14 2018. 16:26 IST