S&P upgrades NN Group

S&P said it raised its rating on NN Group NV to A+ from A, its subsidiary NN Bank NV to A from A- and all their debt ratings a notch.

“The upgrade mainly reflects that after implementing our revised capital model, we view NN Group's capital adequacy as significantly strengthened, and believe the company can maintain an excellent level of capital in 2023-2025. The company's capital adequacy has improved to the 99.99% confidence level under our model,” the agency said in a press release.

The outlook is stable.

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