Moody's ups Danske Bank

Moody's Investors Service said it upgraded the long-term junior senior (senior non-preferred) unsecured debt ratings of Danske Bank A/S to Baa2 from Baa3.

The rating action was driven by changes to Moody's advanced loss given failure framework, which is applied to banks operating in jurisdictions with operational resolution regimes, following the publication of Moody's updated banks methodology on Friday, the agency said.

The stable outlook on the senior unsecured debt rating reflects the view that Danske’s financial performance will remain solid, supporting the current baseline credit assessment, in the aftermath of the pandemic-induced economic recession and continuing uncertainty around the pace of recovery, Moody’s said.

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