Standard & Poor's Reports

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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.

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