Mandated Ratings

The above list does not include all ratings.
1 S&P: Stand-alone credit profile
2 S&P: "Senior Unsecured Debt"
3 S&P: "Senior Subordinated Debt"

The rating information published on these web sites is a service for our investors. The information does not necessarily represent the opinion of Deutsche Pfandbriefbank AG. Ratings should not serve as a substitute for individual analysis. The information provided should not be seen as a recommendation to buy, hold or sell securities. Deutsche Pfandbriefbank AG does not assume liability for the completeness, timeliness, accuracy and selection of such information or for any potential damages which may occur in connection with this information.

The rating agencies may alter or withdraw their ratings at any time. The rating of an individual security issued by Deutsche Pfandbriefbank AG may differ from the ratings shown above or an individual security might not be rated at all. For the evaluation and usage of the rating information (including the rating reports), please refer to the respective rating agencies’ pertinent criteria and explanations, terms of use, copyrights and disclaimers, which are to be considered.