Fitch rates Swedbank A

Fitch Ratings said it assigned Swedbank AB a long-term issuer default rating of A with a stable outlook and a short-term issuer default rating of F1 as well as an individual rating of B/C, a support rating of 1 and support rating floor of A-.

Ratings reflect Swedbank's strong franchise in Sweden, particularly in the retail market, its strong capitalization and good asset quality in Sweden, the agency said.

They also factor in its exposure to the Baltic states, Russia and Ukraine, as well as the bank's limited funding dependence on outstanding government guaranteed bonds, the agency noted.

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