Moody’s Places SBAB Ratings On Review For Downgrade
ET | Source:SBAB
Moody’s has placed on review for downgrade SBAB Bank’s A2 long-term issuer and
senior unsecured ratings, P-1 short-term rating, A3 subordinate rating, (P)Baa2
junior subordinate rating, and Ba1(hyb) preferred stock rating.
The rating review reflects Moody’s view that the bank’s standalone credit
strength faces challenges, particularly with regards to profitability, the
success of recently-offered new products and a capital position sensitive to
relatively small changes in asset quality.
SBAB will engage in discussions with Moody’s within the next few months with a
view to resolve the review.
For further information, please contact:
Per Tunestam, Treasurer
+46 708 744 841, email@example.com
SBAB offers residential mortgages and saving products through the Internet and
telephone, and also grants loans to the corporate sector and housing
associations. By offering products and services that challenge and simplify,
SBAB contributes to increased competition in the Swedish market. The company was
founded in 1985 and is wholly owned by the Swedish Government. In 2012, the
company’s lending volume amounted to SEK 255.9 billion and the deposit volume to
SEK 27.7 billion. SBAB Bank has about 470 employees, of whom approximately 200
work at the headquarters in Stockholm. Learn more at www.sbab.se/english
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