Moody’s Places SBAB Ratings On Review For Downgrade
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