S&P ups Swedbank stand-alone credit profile

Standard & Poor's said that it had affirmed the A long-term and A-1 short-term counterparty credit ratings on Swedbank AB and raised the bank's stand-alone credit profile to A-.

The outlook is stable.

The long-term rating continues to reflect external support from the Swedish government, the agency said.

The revision of the stand-alone credit profile reflects the opinion that Swedbank's funding profile has improved and that its credit risks have decreased, the agency added.

Swedbank has increased stable funding components and is gradually prolonging the maturity of its debt funding, 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.