S&P cuts Swedish Export Credit junior debt

Standard & Poor's said it lowered Swedish Export Credit Corp.'s two rated outstanding junior subordinated debt instruments to BBB- from A+.

The agency also said it lowered the associated program ratings on the company's junior subordinated hybrid instruments to BBB- from A+.

No other ratings on Swedish Export or its debt are affected, S&P said.

The action was due to the agency's updated methodology on rating hybrid instruments, the agency said.

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