S&P affirms its ‘A/A-1’ ratings on SBAB and removes the ratings from CreditWatch negative.
On 19 July 2013, Standard & Poor’s placed its SBAB ’A-A1’ ratings on CreditWatch Negative. The rating action followed S&P’s global study on refinancing risks for banks, where the Scandinavian financial sector was considered an outlier for its higher loan-to-deposit ratios and a greater reliance on external funding.
Following a review, S&P now believes that SBAB has a more conservative and credible plan to reduce reliance on short-term funding and to strengthen its liquid reserves and is therefore affirming its ‘A/A-1’ ratings on SBAB and removing the ratings from CreditWatch Negative. Outlook Negative remains.
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Per Tunestam, Treasurer
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