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Subordinated Debt Of Several European Banks Downgraded On EC Draft Resolution Framework; Other Debt Ratings Unaffected Jul 12
Standard & Poors, July 2012
The European Commission has proposed a framework for a bank recovery and resolution regime, which in our view reduces the likelihood that subordinated debt will benefit from government support to negligible. We are consequently removing any uplift for potential government support from our issue ratings on subordinated instruments to reflect the banks' stand-alone credit profiles only. We are therefore lowering our ratings, by one or more notches, on nondeferrable subordinated debt issued by banks in several European countries. FRANKFURT (Standard & Poor's) July 24, 2012--Standard & Poor's Ratings Services said today that it had lowered its issue ratings on nondeferrable subordinated debt issued by banks in several European countries. These rating actions reflect our reading of the European Commission's (EC'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.
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- Skandinaviska Enskilda Banken AB (publ)
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- DNB Bank ASA
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- Nordea Bank Danmark A/S
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