DBRS changes Handelsbanken to positive

DBRS said it confirmed the ratings of Svenska Handelsbanken AB, including the senior unsecured debt and deposits rating of AA (low), short-term debt and deposits rating of R-1 (middle) and the intrinsic assessment of A (high).

The trend on both the long-term and short-term ratings was revised to positive from stable.

The agency maintains a support assessment of SA-2 for the bank reflecting the expectation that some form of timely systemic support would be provided to the bank, if needed, and as a result the AA (low) senior ratings are positioned one-notch above the intrinsic assessment.

DBRS said the trend revision reflects Handelsbanken’s prudent expansion outside of Sweden, which is leading to further profit diversification, the continued improvement in deposit funding, the consistently strong earnings, and the further improvement in capital.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.