Moody's lowers four Swedish banks

Moody's Investors Service said it downgraded the ratings of four Swedish banks and financial institutions: Nordea Bank AB, Svenska Handelsbanken AB, Swedbank AB and Landshypotek AB.

Moody's downgraded the long-term senior debt and deposit ratings of all these financial entities by one notch, the bank financial strength ratings of Nordea Bank and Svenska Handelsbanken by two notches and the BFSRs of Swedbank and Landshypotek by one notch.

In addition the short-term deposit rating of Landshypotek was downgraded to Prime-2 from Prime-1 while the short-term ratings of all the remaining entities remained unchanged.

Specifically, Moody's downgraded Nordea Bank AB's BFSR to C+ (mapping to an A2 BCA) from B. The outlook on the BFSR is negative.

Moody's downgraded Svenska Handelsbanken's BFSR to C+ (mapping to an A2 BCA) from B, with a negative outlook.

Moody's downgraded Swedbank's BFSR to D+ (mapping to a Baa3 BCA) from C-, with a negative outlook.

Moody's downgraded Swedbank AS's BFSR to D- (mapping to a Ba3 BCA) from D, with a negative outlook.

Moody's downgraded Landshypotek's BFSR to C (mapping to an A3 BCA) from C+.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.