Regions

S&P raises Swedbank's rating outlook to stable

July 20
7:34 AM 2013

Standard & Poor's Ratings Services (S&P) raised the credit rating outlook of Swedbank AB to stable. According to S&P, the outlook meant that Swedbank was better prepared to handle increasing risks in the economy of Sweden compared to its rival lenders. In addition, S&P also removed the bank's negative outlook on both its A-1 short-term opinion and A+ long-term rating.

"Swedbank's steadily improving capitalization and comparably balanced funding profile provide a buffer against the effect of the increased economic risks we see for banks in Sweden," according to a statement yesterday by S&P. "We believe Swedbank will maintain a relative advantage versus peers in terms of capital and earnings, funding and liquidity," S&P added.

The revised outlook for the bank came two months after ratings from Moody's Investors Service. Moody raised Swedbank's rating to A1 for long-term debt and deposit. A1, the fifth-highest investment-grade rating, was given because of reduced risks, increased levels of capital, and improved funding profile.

© 2022 VCPOST, All rights reserved. Do not reproduce without permission.
Tags
Share

Comments

Join the Conversation

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics