Scope Ratings AG
Scope Publishes Ratings on Four Large Nordic Banks
Scope Ratings AG / Key word(s): Miscellaneous Ratings reflect strong prudential and credit metrics and stable funding, but also growing challenges in the Nordic region, such as overheating housing prices in Sweden and Norway, which could affect the large banks’ asset-quality metrics. Scope Ratings today has published its first long-term and short-term ratings on four large banks domiciled in the Nordic region, as follows: * Danske Bank A/S (Denmark): Issuer Credit-Strength Rating (ICSR) and long-term unsecured debt rating at A-, stable outlook; short-term debt rating at S-1, stable outlook; * DNB Bank ASA (Norway): ICSR and long-term debt unsecured debt rating at A+, stable outlook; short-term debt rating at S-1, stable outlook; * Nordea Bank AB (Sweden): ICSR and long-term unsecured debt rating at A+, stable outlook; short-term debt rating at S-1, stable outlook; * Swedbank AB (Sweden): ICSR and long-term unsecured debt rating at A-, stable outlook; short-term debt rating at S-1, stable outlook. Ample capital positions and excellent asset quality metrics Possible risks arising on overheating housing prices Stable funding thanks to a high share of covered bond financing Scope’s ratings reflect new regulatory environment Conversely, Scope considers state support for banks in distress as increasingly unlikely — with the possible exception of public sector-owned institutions or banks with a well-defined public mission. As such, the ratings do not benefit from any notching uplift on account of state support. This assessment applies also to DNB Bank despite the minority ownership by the Norwegian government. Forward-looking analysis reinforced by financial forecasting The ratings and the underlying analyses are based on Scope’s bank rating methodology, supplemented by its methodology on forecasting bank financials and published at www.scoperatings.com The ratings were not solicited by the issuers. The rating reports for each bank indicates whether the issuer has participated or not in the rating process. Scope has published research on each of the rated banks, detailing the rating drivers and the rating-change drivers. The research includes also peer-group analyses and financial forecasts. Click here to read individual press releases: About Scope Ratings Scope Ratings was founded as an independent rating agency in Berlin, Germany, in 2002. It specializes in ratings and research of financial institutions, corporates, structured finance transactions and alternative investment funds across Europe. The rating agency is committed to full transparency and diversity of opinions in the European capital markets. Scope Ratings is registered by ESMA as an official credit rating agency (CRA) to operate in the European Union. More information about Scope on www.scoperatings.com. Contact
Scope Ratings AG Phone: +49 (0)30 27891-0 19.11.2014 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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