Ratings

As of July 19, 2005, the unguaranteed Ratings for DekaBank have been applied by Standard & Poor´s and Moody´s as follows:

	Standard & Poor's	Moody's
Ratings (unsecured issuances)
Preferrred Senior Unsecured Debt ¹⁾	A+ Senior Unsecured Debt	Aa2 (stable) Senior Unsecured Debt
Non-Preferred Senior Unsecured Debt ²⁾	A Senior Subordinated Debt	A1 Junior Senior Unsecured Debt

Bank Ratings	Standard & Poor's	Moody's
Deposit Rating ³⁾	n/a	Aa2 Bank Deposits
Counterparty Rating ⁴⁾	A+ Counterparty Credit Rating	Aa2 Counterparty Risk Rating
Issuer Rating	A+ (negative) Issuer Credit Rating	Aa2 (stable) Issuer Rating
Own financial strength	bbb Stand-alone Credit Profile	baa2 Baseline Credit Assessment
Short-Term Rating	A-1	P-1

¹⁾ Senior unsecured debt, which in case of insolvency will be corrected before debt instruments according to § 46 f (6) S. 1 KWG.
²⁾ Senior unsecured notes, which are non preferred debt instruments according to § 46 f (6) S. 1 KWG.
³⁾ Deposit Rating (corporate and institutional deposits).
⁴⁾ Client business i.e. conterparty for derivates.

Rating Reports

	Standard & Poor's	Moody's
Rating report	PDF \| 527 KB¹⁾	PDF \| 1.2 MB
Last Update:	02.10.2019	21.04.2020
Further reports:	PDF \| 203 KB¹⁾	PDF \| 1.6 MB
	17.09.2019	18.05.2020

1) © by Standard & Poor's, A Division of The McGraw-Hill Companies GmbH, reproduction permitted only with the consent of Standard & Poor's. Standard & Poor's Rating Services is the world's foremost provider of objective, informative risk analyses and credit ratings of issuers. For more information on Standard & Poor's ratings, products and services, visit: http://www.standardandpoors.com/.

Archive Rating Reports

Standard & Poor's

Name	Size
2019-10-01 S&P DekaBank (527 KB)	527 KB
2018-10-02 S&P DekaBank (387 KB)	387 KB
2017-10-16 S&P DekaBank (373 KB)	373 KB
2017-02-09 S&P German DekaBank Upgraded (284 KB)	284 KB
2016-09-01 S&P DekaBank (512 KB)	512 KB
2016-08-19 S&P Ratings Affirmed On Various German Savings (406 KB)	406 KB
2015-09-09 S&P DekaBank (301 KB)	301 KB
2015-08-14 S&P German DekaBank Outlook Revised to positive (277 KB)	277 KB
2014-10-15 S&P DekaBank (360 KB)	360 KB

Moody's

Name	Size
2020.05.18 Moodys Issuer Profile DekaBank (1605 KB)	1605 KB
2020.04 Moodys CO DekaBank (1307 KB)	1307 KB
2019.08 Moodys CO DekaBank (1296 KB)	1296 KB
2019.07 Moodys DekaBank Company Profile (1347 KB)	1347 KB
2019.02 Moodys CO DekaBank (1235 KB)	1235 KB
2018.09.11 Moodys German Banks Issuer Ratings (108 KB)	108 KB
2018.08.03 Moody's downgrades senior unsecured debt instruments of German banks (127 KB)	127 KB
2018.08 Moodys CO DekaBank (1234 KB)	1234 KB
2018.07 Moodys CO DekaBank (1231 KB)	1231 KB
2018.06.19 Moody's assigns Counterparty Risk Ratings to 26 German Banks (124 KB)	124 KB
2018.05 Moodys DekaBank Company Profile (1276 KB)	1276 KB
2017.12 Moodys CO DekaBank (1236 KB)	1236 KB
2017.12 Moodys affirms senior unsecured debt ratings -outlook negative (118 KB)	118 KB
2017.07 Moodys CO DekaBank (1222 KB)	1222 KB
2017.05 Moodys DekaBank Company Profile (1254 KB)	1254 KB
2017.01 Moodys CO DekaBank (1306 KB)	1306 KB
2016.08 Moodys CO DekaBank published (1308 KB)	1308 KB
2016.06 Moodys Dekabank Company Profile (993 KB)	993 KB
2016.01 Moodys CO DekaBank (141 KB)	141 KB
2015.07 Moodys CO DekaBank (139 KB)	139 KB
2015.03 Moodys CO Dekabank (139 KB)	139 KB

Covered Bonds

For Covered Bonds (Pfandbriefe) issued by DekaBank the following ratings still apply:

	Moody's
Covered Bonds	Aaa

S&P Covered Bonds Rating (April 2017)

Here you will find more information on Pfandbrief releases in accordance with Art. 28 of the German Pfandbrief Act.

Sustainability Ratings

Sustainable action reduces not only entrepreneurial and social risks, but also opens new chances of growth and value enhancement.

Deka Group again received a very good AA rating (scale AAA to CCC) from MSCI ESG Rating and is currently the only German Asset Manager amongst the five largest peers in the GICS® industry (Global Industry Classification Standard) by market cap. (Rating date as at 26.08.2019; update as at 20.05.2020).

_Prime Label_Corporate Responsiblity.jpg

The rating agency ISS ESG distinguished the Deka Group with the Prime-Status even in 2020. With a C+ rating (scale A+ to D–), the Deka Group was again placed among three best rated banks in the peer group of “Public and regional banks”. Only two institutions achieved a better rating with the B – grade. (As at 22.06.2020)

In the “Bond-Sonar-Rating” of the rating agency imug rating, DekaBank could improve in all three rating categories, i. e. “sustainability rating” (BB),“mortgage covered bonds” (BBB) and “public sector covered bonds” (BBB) and achieved the best result so far. (As at 03.03.2020)

Last reviewed by Sustainalytics in 2017, the Deka Group gets 83 out of 100 points in the rating and is classified by the agency as “Leader” for the first time. It thus attains rank 11 of 332 of the total number of banks rated worldwide. In 2020, the Deka Group expects an update of the rating result.