S&P corrects Swedbank notes to A-

Standard & Poor's said it corrected to A- from A its debt rating on the €400 million of 7.375% callable subordinated step-up notes due 2018 issued by Swedbank AB (A/stable/A-1).

Due to a data entry error, the agency said it inadvertently assigned the rating as unsubordinated notes when in fact they are subordinated. As a consequence, the debt rating should have been one notch lower, S&P said.

© 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.