Moody's downgrades SBAB Bank´s issuer rating to A2; outlook stable.
On 2 November 2011, Moody´s Investors Service downgraded SBAB Bank's issuer rating to A2 from A1.
At the same time, the subordinated debt rating was downgraded to A3 from A2 and the junior subordinated MTN and Tier 1 hybrid ratings were downgraded to Baa2 from Baa1 and to Ba1(hyb) from Baa3(hyb), respectively. All ratings carry a stable outlook. The Prime-1 shortterm ratings were unaffected.
The ratings of the covered bonds issued by SBAB´s wholly-owned subsidiary, The Swedish Covered Bond Corporation (SCBC), are unaffected by this action.
Christer Löfdahl, CFO SBAB Bank
Telephone: +46-8-614 38 40
Mobile: +46-725-31 38 40
Bernd Schmitz, Chief Press Officer SBAB Bank
Telephone: +46-8-614 43 94
Mobile: +46-727-44 43 94