Moody's may cut Deutsche Bank ratings on credit risk

NEW YORK Nov 19 (Reuters) - Moody's Investors Service placed Deutsche Bank AG (DBKGn.DE) on review for possible downgrade on Thursday due to possible credit-related writedowns that may weigh on profits, the rating agency said.

Ratings for the bank's senior debt rated Aa1, the second highest rating, and the bank's financial strength at B, five levels below investment grade, are on review for possible cuts, Moody's said.

The bank's Prime-1 short-term ratings and its subsidiaries' ratings were affirmed.

Deutsche Bank's credit profile has certain weaknesses that make the bank less well positioned for a B financial strength rating, Moody's said.

Moody's said their review will incorporate the expectation that Deutsche Bank and other banks globally will experience increasing deterioration in asset quality over the coming quarters, "which is likely to lead to greater credit-related writedowns than previously anticipated in the ratings ..." Moody's said in a statement, weighing on profitability.

(Reporting by Walden Siew; editing by Jeffrey Benkoe)