S&P cuts Deutsche Bank's Tier 1 securities rating to B+ from BB-

Rating agency Standard and Poors (S&P) on Thursday said it cut Deutsche Bank AG's Tier 1 securities rating to B+ from BB- and also lowered Deutsche Bank Capital Finance Trust I perpetual Tier 2 instrument rating to BB- from BB. S&P said the bank's 4.3 billion euros pro forma payment capacity for 2017 should be sufficient to enable continued Tier 1 interest payments, but its German GAAP earnings prospects are difficult to foresee amidst restructuring and volatile market conditions. The ra