Moody’s downgrades ratingsMoody’s downgrades ratings

Since the release of the Group's 2008 annual report on February 5, three credit rating agencies have reduced their assessment of the Danske Bank Group’s counterparty credit risk. Standard & Poor’s and Fitch Ratings came first with their announcements, and now Moody’s falls in, downgrading its rating for the Group’s long-term deposits from Aa1 to Aa3. The Group’s financial strength has been downgraded from B to C.



Still in the next-to-top rating category
The latest rating adjustments reflect expectations of increased loan impairment charges owing to the growing number of jobless as well as bankruptcies among the Group’s corporate customers. Despite its rating changes, Moody’s still assigns an AA-rating to Danske Bank, placing us in the next-to-top rating category.

Limited impact on funding costs
The three rating agencies’ downgrades will not have any material consequences for the Danske Bank Group's funding costs. The Group participates in the Danish bank and credit packages. The loans issued by the Group are guaranteed by the Danish State which has an AAA credit rating.

Published on February 17, 2009

More information about ratingsMore information about ratings

Change of the Group's ratings
Read 'Change of the Group’s ratings' if you want to learn more about Standard & Poor’s and Fitch Ratings’ downgrading of the Group’s counterparty credit risk.

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The Group's ratings
The Danske Bank Group is rated by the three major international credit rating agencies: Moody’s, Standard & Poor’s and Fitch Ratings.

Get more information about the Group's ratings