Nordea Bank’s individual rating upgraded

28.10.2010

Nordea Bank’s individual rating upgraded

Fitch Ratings agency has upgraded the individual rating of OJSC Nordea Bank from «D/E» to «D».

The individual rating upgrade reflects stabilization of the Bank’s asset quality in an improved macroeconomic environment, and its currently comfortable capital and liquidity position, – according to the agency’s press-release.

OJSC Nordea Bank’s Long-Term Issuer Default Rating is affirmed at «BBB+» with «Outlook Stable». This is the maximal rating which an issuer operating in Russia can be assigned with, as its level may not be higher than the country rating’s upper limit.

All ratings of OJSC Nordea Bank:
  • Long-term foreign currency IDR: affirmed at «BBB+», Outlook Positive;
  • Short-term foreign currency IDR: affirmed at «F2»;
  • National Long-term rating: affirmed at «AAA(rus)», Outlook Stable;
  • Support Rating: affirmed at «2»;
  • Individual Rating: upgraded to «D» from «D/E».

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