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Moody’s eyes Swedbank for downgrade
Moody’s Investors Service said it placed Swedbank AB’s ratings on review for downgrade. The outlook was stable before the review.
“This action follows the Swedish resolution authority's proposal to amend its rules on minimum requirements for eligible liabilities and own funds (MREL) which will result in most Swedish banks needing to issue lower levels of additional loss-absorbing debt,” the agency said in a press release.
Moody’s said its review will focus on the bank's updated capital and funding plan, minimum issuance targets, along with the rating agency's assessment of the sustainability of the expected liability structure over the longer term.
Concurrently, the agency affirmed Swedbank’s junior senior unsecured regular bond/debenture rating at Baa1 and subordinate regular bond/debenture at Baa2.
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