DBRS Assigns Short-Term Sovereign Ratings of R-1 (high) to Germany, Stable Trend

DBRS, Inc. (DBRS) has today assigned R-1 (high) short-term issuer ratings with a Stable trend to the local and foreign currency debt of the Federal Republic of Germany. The R-1 (high), Stable trend ratings are consistent with DBRS’s long-term issuer ratings on the local and foreign currency debt of AAA, Stable trend, as per DBRS’s rating scales.

Notes:
The principal applicable methodology is Rating Sovereign Governments, which can be found on our website under Methodologies. The principal applicable rating policies are Commercial Paper and Short-Term Debt, and Short-Term and Long-Term Rating Relationships, which can be found on our website under Rating Scales.

The sources of information used for this rating include the German Ministry of Finance, Bundesbank, Statistisches Bundesamt, Eurostat, OECD, BIS and IMF. DBRS considers the information available to it for the purposes of providing this rating was of satisfactory quality.

This is an unsolicited credit rating. This credit rating was not initiated at the request of the issuer. This rating was assigned without participation by the issuer or any related third party.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

Lead Analyst: Fergus J. McCormick
Rating Committee Chair: Alan G. Reid
Initial Rating Date: 16 July 2011
Most Recent Rating Update: 28 June 2012

For additional information on this rating please refer to the linking document under Related Research.