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Sweden-Based Swedbank AB 'A/A-1' Ratings Affirmed Following Rights Issue Announcement; The Outlook Is Negative Aug 09 Product Image

Sweden-Based Swedbank AB 'A/A-1' Ratings Affirmed Following Rights Issue Announcement; The Outlook Is Negative Aug 09

  • ID: 1886253
  • August 2009
  • Standard & Poors

Abstract
-- The SEK15 billion rights issue announced on Aug. 17, 2009, will provide an additional cushion for the continued high level of loan loss provisions that we expect to come through from the bank's Baltic and Ukrainian operations. -- We are affirming our 'A/A-1' long- and short-term counterparty credit ratings on Sweden-based Swedbank AB. -- The negative outlook reflects the possibility that the correction in the Baltic economies and Ukraine could significantly weaken Swedbank's financial profile. STOCKHOLM (Standard & Poor's) Aug. 18, 2009--Standard & Poor's Ratings Services said today that it had affirmed its 'A' long-term and 'A-1' short-term counterparty credit ratings on Sweden-based Swedbank AB. The outlook is negative. "The affirmation follows yesterday's announcement that the bank will raise...

Companies mentioned in this report are:
- Swedbank AB

Action: Affirmed
Action: Outlook: Negative

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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