Business Services Industry
Fitch Wthdr Rtgs Of Deutsche Morgan Grenfell Group & Subs
Business Wire, March 13, 2002
Business Editors
LONDON--(BUSINESS WIRE)--March 13, 2002
Fitch Ratings has withdrawn its ratings for Deutsche Morgan Grenfell Group plc and its subsidiaries Morgan Grenfell & Co Ltd and Bankers Trust International PLC at their request.
The Short-term ratings of all three entities were 'F1 ', and Bankers Trust International had a Long-term rating of 'AA-'.
Deutsche Morgan Grenfell Group is a U.K. subsidiary of Deutsche Bank (DB). Its two principal subsidiaries are Morgan Grenfell & Co., a UK bank, and Deutsche Asset Management Group Ltd, an institutional asset manager. Bankers Trust International legally became Deutsche Morgan Grenfell Group's subsidiary with effect from June 1999, but almost all its operations have now been transferred elsewhere in the Deutsche Bank group. Morgan Grenfell & Co. has undergone considerable restructuring since 1995, with most of its former activities transferred to Deutsche Bank's London branch and other Deutsche Bank group companies. It now houses most of DB's UK equity trading business.
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