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Printed from http://www.researchandmarkets.com/reports/1886271
Swedbank Rtgs Affirmed; Stand-alone Credit Profile Raised To 'a-' On Improved Asset Quality And Lower Funding Risks Mar 11
Description:
Abstract
We expect Sweden-based Swedbank AB to return to a pre-crisis operating profit range of Swedish krona (SEK) 13 billion-SEK15 billion annually, partly due to a gradual recovery in the Baltic states of Estonia, Latvia, and Lithuania. Swedbank's second-largest market, Estonia, entered the eurozone on Jan. 1, 2011, eliminating previously significant currency risk against the euro. We are affirming our 'A/A-1' long- and short-term counterparty credit ratings on the bank; the outlook is stable. We are raising the bank's stand-alone credit profile (SACP) to 'a-' and raising the hybrid capital rating to 'BBB-' to reflect the change in the SACP and a proposal to resume dividends to shareholders. LONDON (Standard & Poor's) March 2, 2011--Standard & Poor's Ratings Services said today...
Companies mentioned in this report are:
- Swedbank AB
- Swedbank Mortgage AB
Action: Affirmed
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.
We expect Sweden-based Swedbank AB to return to a pre-crisis operating profit range of Swedish krona (SEK) 13 billion-SEK15 billion annually, partly due to a gradual recovery in the Baltic states of Estonia, Latvia, and Lithuania. Swedbank's second-largest market, Estonia, entered the eurozone on Jan. 1, 2011, eliminating previously significant currency risk against the euro. We are affirming our 'A/A-1' long- and short-term counterparty credit ratings on the bank; the outlook is stable. We are raising the bank's stand-alone credit profile (SACP) to 'a-' and raising the hybrid capital rating to 'BBB-' to reflect the change in the SACP and a proposal to resume dividends to shareholders. LONDON (Standard & Poor's) March 2, 2011--Standard & Poor's Ratings Services said today...
Companies mentioned in this report are:
- Swedbank AB
- Swedbank Mortgage AB
Action: Affirmed
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.
Companies Mentioned
- Swedbank AB
- Swedbank Mortgage AB
- Swedbank Mortgage AB
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Swedbank Rtgs Affirmed; Stand-alone Credit Profile Raised To 'a-' On Improved Asset Quality And Lower Funding Risks Mar 11
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