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Danske Bank Downgraded To 'A' On Asset Quality Deterioration; Outlook Negative Dec 09
Standard & Poors, December 2009
The asset quality of Denmark-based Danske Bank A/S dropped sharply in the year to September 2009. We are lowering our long-term counterparty credit ratings on the bank to 'A' from 'A+'. The negative outlook reflects our view that the bank's asset quality will deteriorate further in 2010. STOCKHOLM (Standard & Poor's) Dec. 18, 2009--Standard & Poor's Ratings Services said today that it had lowered its long-term counterparty credit ratings on Denmark-based Danske Bank A/S and subsidiary Sampo Bank PLC to 'A' from 'A+'. At the same time, the long-term counterparty credit and insurer financial strength ratings on Danske Bank's core subsidiary, Danica Pension, Livsforsikringsaktieselskab (Danica) were lowered to 'A' from 'A+'. The outlook on Danske Bank and Danica, and Sampo...
Companies mentioned in this report are:
- Danske Bank A/S
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