DB - Deutsche Bank credit ratings may be upgraded by Moody's on overhaul progress

Moody's puts Deutsche Bank's ([[DB]] -0.9%) credit ratings on review for upgrade due to its "swift and pronounced progress" in its restructuring undertaken by CEO Christian Sewing.The movement toward a "more balanced and sustainable business model" combined with its unchanged "solid capital and liquidity buffers" provides upward pressure to the bank's standalone credit profile, Moody's said.The review could give a boost to Deutsche Bank's already investment-grade ratings. The bank's A3/P-2 long- and short-term deposit ratings and long-term senior unsecured debt ratings are under review, as are its Baa3 junior unsecured debt ratings. It's "ba" baseline credit assessment may also be raised.Credit ratings are important to corporations because the price of borrowing money declines as credit ratings rise.Since announcing the overhaul in summer 2019, Deutsche Bank has provided for almost €7B of restructuring and transformation charges, and €1.8B in loan loss provision, and has reduced capital and leverage exposure consumption and operating

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Deutsche Bank credit ratings may be upgraded by Moody's on overhaul progress