Research Update: Danske Bank A/S And Operating Subsidiaries 'A/A-1' Ratings Affirmed On Bank Criteria Change; Outlook Negative Dec 11
Standard & Poors, December 2011
Abstract
Following a review under Standard & Poor's revised bank criteria (published Nov. 9, 2011), we have affirmed our long- and short-term counterparty credit ratings on Danske Bank A/S at 'A/A-1'. The outlook is negative. Our ratings on Danske Bank reflect its strong business position, moderate capital and earnings, adequate risk position, average funding, and adequate liquidity. We consider Danske Bank to have high systemic importance in Denmark and incorporate two notches of uplift for potential government support into the long-term rating. The negative outlook reflects our belief that the rating remains under pressure, primarily because of Danske Bank's exposures in Ireland and Northern Ireland. As we previously announced on Dec. 1, 2011, Standard & Poor's Ratings Services affirmed its 'A'...
Companies mentioned in this report are:
- Danske Bank A/S
- Danske Corp., Delaware
- Danske Bank PLC
- Danica Pension Livsforsikringsaktieselskab
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
- Danske Bank A/S
- Danske Corp., Delaware
- Danske Bank PLC
- Danica Pension Livsforsikringsaktieselskab
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