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S&P affirmed "AA-" rating and raised outlook to “stable”

S&P affirmed long-term issuer rating of DB AG (“AA-”) and raised outlook back to “stable”. Short-term rating unchanged.

(Berlin, July 29, 2022) The rating agency S&P Global Ratings (S&P) announced today, that it affirmed the “AA-” long-term issuer rating of Deutsche Bahn AG (DB AG) and raised the outlook from “negative” back to “stable”.  

The short-term rating of DB AG is unchanged (“A-1+”).   

The raised to “stable” outlook resulted in S&P's view from the recovery of demand from the impact of Covid-19 pandemic, particularly in long-distance rail passenger transport, the positive development of DB Schenker, and the ongoing strong support from the Federal Government.    

The release of S&P and more details regarding the ratings of DB AG may be found on our IR Web site under


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