Ratings stable

Ratings for DB AG	First issued	Last con- firmed	Current ratings
Ratings for DB AG	First issued	Last con- firmed	Short- term	Long- term	Outlook
S&P Global Ratings	May 16, 2000	Jul 15, 2016	A–1+	AA–	Stable
Moody’s	May 16, 2000	Sep 28, 2015	P–1	Aa1	Stable

The creditworthiness of DB Group is constantly monitored and assessed by the rating agencies S&P Global Ratings (S&P) and Moody’s. In the first half of 2018, Moody’s published an update on the assessments of DBAG and left the ratings and outlook unchanged.

Further information on the topic rating and the full analyses of the rating agencies for DBAG are available on our Investor Relations Web site.