Ratings agency drops bank from A- to BBB+ and casts doubt on its strategy for recoveryDeutsche Bank and its biggest investor sought to reassure shareholders and staff of its financial strength after a ratings downgrade on Friday questioned its ability to implement a plan to return to profitability. Shares in the bank closed at an all-time low on Thursday as past misadventures in high-risk investment banking stymied the new chief executive Christian Sewing’s attempt to refocus on its more staid corporate banking roots. Continue reading…
Via: 'Troubled' Deutsche Bank backed by key investor after S&P downgrade
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