Deutsche Post ditches S&P, raises €2bn with Fitch

Deutsche Post, the German postal service that is now largely privatised, raised €1bn in the bond market today and €1bn with a convertible bond, in an ambitious and unusual transaction designed to replenish its pension fund.

  • 04 Dec 2012

The company also came to the market without a Standard & Poor’s rating, having decided to drop the rating agency and replace it with Fitch. That did not lead to a change in rating, as both Standard & Poor’s and Fitch gave it BBB+ with a stable outlook.

Deutsche ...

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