In this May 24, 2018, file photo, CEO of Deutsche Bank Christian Sewing makes his way to the annual meeting of the bank in Frankfurt, Germany. (AP Photo/Michael Probst, File)
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Deutsche Bank's CEO is trying to reassure employees that the bank's turnaround will succeed despite more downbeat news including a credit downgrade from Standard & Poor's.Christian Sewing acknowledged in a message Friday to staff that "many of you are sick and tired of bad news" but assured them that the bank has solid capital buffers.He noted that the ratings agency predicts the bank will eventually return to steady profits and that its outlook was rated as "stable," meaning further downgrades are not envisioned.The ratings agency lowered Deutsche Bank's credit rating to BBB+ from A-, saying the bank's wide-ranging restructuring faces "execution risks" and will take time to return the bank to steady profitability.Shares in the bank, Germany's biggest, rose 2.8 percent Friday to 9.53 euros.
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