Fitch upgrades Danske

Fitch Ratings said it upgraded Danske Bank A/S' long-term issuer default rating to A+ from A.

“The upgrade reflects Fitch's upgraded assessment of Danske's capitalization and profitability. We expect Danske's capitalization to remain strong, underpinned by a robust common equity tier 1 (CET1) ratio and the settlement with the U.S. and Danish authorities of past anti-money-laundering (AML) control deficiencies in its Estonian branch.

“We also believe that the bank's profitability has durably recovered, underpinned by the improved interest rate environment and the expected conclusion of the bank's costly remediation and financial crime prevention projects,” the agency said in a press release.

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