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Research Update: Swedbank Rtgs Affirmed; Stand-alone Credit Profile Raised To 'a-' On Improved Asset Quality And Lower Funding Risks Mar 11 Product Image

Research Update: Swedbank Rtgs Affirmed; Stand-alone Credit Profile Raised To 'a-' On Improved Asset Quality And Lower Funding Risks Mar 11

  • Published: March 2011
  • Standard & Poors

FEATURED COMPANIES

  • Swedbank AB
  • Swedbank Mortgage AB
  • MORE

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. On March 2, 2011, Standard & Poor's Ratings Services affirmed the 'A' long-term...

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 READ MORE >

- Swedbank AB
- Swedbank Mortgage AB

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