Comment / Analysis: Deutsche Bahn's Schenker disposal – well, what disposal?

ID 131971362 © Floriano Rescigno | Dreamstime.com

E pur si muove! (And yet it moves! – Galileo)

From a pure credit perspective, Teutonic behemoth Deutsche Bahn, the world’s largest rail company and owner of 3PL DB Schenker (DBS, seemingly forever on the block)…

… isn’t that different, in its current form, from the sovereign risk of Germany.

Rated three notches below the country’s long-term credit rating of AAA, the cherry on the rating cake, and holding onto high-grade territory according to S&P Global Ratings (S&P), last week it had that ...