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S&P takes various actions on 5 Danish banks

S&P Global Ratings on Oct. 23 took various ratings actions on Danske Bank A/S, Nykredit Realkredit A/S, Jyske Bank A/S, DLR Kredit A/S and Danmarks Skibskredit A/S.

The long- and short-term issuer credit ratings of Danske Bank and its core unit were affirmed at A/A-1, with the outlook on the long-term ratings revised to stable from negative. The outlook reflects a potential weakening in the lender's stand-alone credit quality due ongoing regulatory investigations, the agency said.

The rating agency also affirmed the A/A-1 issuer credit ratings of Nykredit Realkredit, with the outlook on the long-term rating remaining positive. The ratings were maintained citing the lender's dominant role in the Danish mortgage market and strong capital buffers. The agency also equalized the ratings of Nykredit Bank A/S with those of the parent.

Meanwhile, S&P Global Ratings raised the issuer credit ratings of Jyske Bank to A/A-1 from A-/A-2 as it expects an increased additional loss-absorbing capacity buffer to provide meaningful protection to the bank's senior creditors in a resolution scenario. The outlook on the long-term rating was revised to stable from positive.

Also changed to stable from positive was the outlook on the long-term rating of DLR Kredit, whose issuer credit ratings were affirmed at A-/A-2.

The agency also affirmed the BBB+/A-2 issuer credit ratings of Danmarks Skibskredit and maintained the stable outlook on the long-term rating.

S&P Global Ratings said the actions were driven by its view that the economic risk for banks in Denmark has subsided, although industry risks are now higher than before.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.