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S&P downgrades Deutsche Bank over restructuring plans

Troubled bank last week announced plans to cut thousands of jobs

S&P downgrades Deutsche Bank over restructuring plans

Deutsche Bank was downgraded Friday by S&P Global Ratings, which cited concerns over the German lender's restructuring plans.

The ratings agency cut the long-term issuer credit rating to 'BBB+' from 'A-'on the bank and its core operating subsidiaries.

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