Handelsbanken: Standard & Poor's upgrades the ratings of Svenska Handelsbanken
In a press release earlier today Standard & Poor's Ratings Services announced that it had raised its counterparty long term credit rating on Svenska Handelsbanken and its mortgage company Stadshypotek to AA- from A+. The short term rating has been raised from A-1 to A-1+.
Standard & Poor's says among other things that the upgrading reflects the bank's superior and recurrent profitability, underpinned by a strong market position, tight management of credit risks, a focused management culture as well as the bank's consistent and prudent strategy.
With this upgrading by Standard & Poor's Svenska Handelsbanken obtains the highest credit rating among Nordic banks. All institutes that rate Svenska Handelsbanken now have an AA-rating on the bank. Moody's rates the bank the highest, Aa1, which gives Svenska Handelsbanken one of the highest ratings in the world.
A high rating is essential for Svenska Handelsbanken in order to obtain best possible funding costs, especially in an international perspective.
For further information please contact:
Bengt Ragnå, head Investor Relations, phone: +46 8 7011216,
e-mail: bera02@handelsbanken.se, or
Lars Lindmark, head Corporate Communications, phone: +46 8 701 1036,
e-mail: lali12@handelsbanken.se