Moody’s downgrades Germany’s Commerzbank but outlook is stable
FRANKFURT (Reuters) – The credit rating agency Moody’s on Thursday downgraded Commerzbank by a notch and said the outlook was stable.
Moody’s said Commerzbank’s credit profile was “solidly positioned” but it cut the rating to A2 from A1 on technical grounds.
“The rating step has nothing to do with the fundamental development of the bank,” Commerzbank said.
(Reporting by Tom Sims; Editing by Chris Reese)