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DBRS assigns new ratings to Nordea Bank Abp after domicile change

DBRS on Oct. 10 assigned new ratings to Nordea Bank Abp following its change in domicile to Finland.

The rating agency assigned the bank AA (low)/R-1 (middle) long- and short-term issuer ratings and long- and short-term deposits ratings, AA (low) long-term senior debt rating, R-1 (middle) short-term debt rating and AA (high)/R-1 (high) long- and short-term critical obligations ratings. The trend on all the ratings is stable.

DBRS also noted the intrinsic assessment for Nordea Bank is AA (low), while the support assessment is SA3.

Additionally, DBRS assigned AA (low)/R-1 (middle) long- and short-term deposits ratings, AA (low) long-term senior debt ratings and R-1 (middle) short-term debt ratings to the bank's branches in Sweden, Denmark and Norway. The trend on these ratings is stable.

Simultaneously, the agency withdrew its existing ratings on Nordea Bank AB (publ) and its Danish, Finnish and Norwegian branches, as the institution has been dissolved, with all its assets and liabilities assumed by Nordea Bank Abp.