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Danske Bank A/S Outlook Negative On Increased Asset Quality Concerns; 'AA-' Ratings Affirmed Oct 08
Standard & Poors, October 2008
STOCKHOLM (Standard & Poor's) Oct. 22, 2008-- Standard & Poor's Ratings Services said today that it had revised its outlook on Denmark-based Danske Bank A/S to negative from stable. At the same time, the 'AA-' long-term and 'A-1+' short-term counterparty credit ratings were affirmed. At the same time, the outlook on Danske Bank's wholly-owned core subsidiary in Finland, Sampo Bank PLC, was revised to negative from stable and the 'AA-' long-term and 'A-1+' short-term counterparty credit ratings were affirmed. "The outlook revision reflects our expectation that the bank's asset quality will be affected by the slowdown in the Danish economy as well as a continued fall in real estate prices," said Standard & Poor's credit analyst Miguel Pintado. "It also...
Companies mentioned in this report are:
- Danske Bank A/S
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.
- Danske Bank A/S