Moody's Investors Service ("Moody's") has upgraded SBAB Bank AB (publ)’s (“SBAB”) rating from A2 to A1. SBAB’s long-term rating is now A1 with stable outlook.
According to Moody’s, SBAB’s rating upgrade reflects improvements in primarily profitability and the diversification of funding sources.
- We are delighted that Moody’s are confirming our positive business development by upgrading our rating. Moody's highlights improvements in profitability and the diversification of funding sources. In addition, I would also like to mention that SBAB has been rewarded with the most satisfied residential mortgage customers in Sweden by Swedish Quality Index (Svenskt Kvalitetsindex, SKI) for three consecutive years. This has been achieved at the same time as we have grown significantly both in lending as well as in deposits, says Klas Danielsson, CEO SBAB.
For additional information, please see the attached statement from Moody’s.
SBAB contact details:
Karin Hellgren, Head of Public Relations, telephone: +46 70-668 38 24, email: firstname.lastname@example.org