Rating

* Bank Financial Strength Ratings

Swedbank's subsidiaries' rating

Swedbank Mortgage

S&P: long term rating A+, short term rating A1 and covered bonds AAA
Moody's: long term rating A2, short term rating  P1 and covered bonds Aaa

Recent Rating Events

Dec 1 2011
S&P upgraded Swedbank’s long-term ratings to A+ from A, affirmed the A-1 short-term rating, raised the non deferrable subordinated debt rating A from A- and affirmed the junior subordinated debt rating on Swedbank at bbb-. The stand-alone credit profile (SACP) of Swedbank is a- and the outlook is stable. The upgrade reflects S&P’s view of Swedbank’s position as market leader in retail mortgages and deposits as well as mutual funds. The components of business-, capital and earnings-, risk-  and funding and liquidity position are all considered well balanced. The stable outlook is based on continued stability on these factors noting Swedbank’s prudent risk appetite and strong capitalization.

June 8 2011
Moody’s upgraded Swedbank’s stand alone bank financial strength rating one notch to C-mapping to a BCA stand alone rating of Baa2 and raised the junior subordinated debt and Tier 1 hybrid securities one notch to Baa3 and Ba2 respectively with a positive outlook. The A2 long-term debt and deposit rating and A3 subordinated debt rating where affirmed with stable outlook. The upgrade reflects Moody’s view of the stabilization of asset quality in the Baltic operations and Swedbanks improving financial strength and good capital and liquidity metrics. Moody’s see an upside pressure on Swedbank Baa2 standalone credit rating.

March 2 2011
Standard & Poor's upgraded Swedbank’s stand alone credit profile one notch to a- and raised the rating on the banks hybrid capital instruments by two notches to BBB-. The A long-term and A-1 short-term ratings where affirmed. The upgrade reflects S&P’s view of Swedbank’s improved funding profile, reduced credit risks, the favorable performance of the mortgage portfolio compared to its Swedish peers and improved macroeconomic situation in Swedbank’s primary markets.

 
16 November 2010
Moody's placed Swedbank AB's and Swedbank Mortgage AB's all ratings on review for possible upgrade.

6 October 2010
Fitch assigned Swedbank with a long-term rating of A, a short-term rating of F1 and a stable outlook. The rating reflects Swedbank’s strong position in Sweden, the stable capitalization and the initiated recovery in the Baltic countries.

22 June 2010
Moody’s changed the outlook of Swedbank to Stable and affirmed the bank’s long-term rating of A2 and short-term rating of Prime-1. The stabilisation of the outlook reflects Swedbank's improved capital and funding position and a stabilisation of the bank's Baltic exposures.

23 February 2010
Standard & Poor’s changed the outlook of Swedbank to Stable and affirmed the bank’s long-term rating of A and short-term rating of A-1. The outlook was changed to stable mainly due to reduced uncertainty about the Baltic economies.