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Moody's withdraws ratings on Danske Bank Finnish unit

Moody's on Dec. 29 withdrew the ratings of Danske Bank Oyj, following the bank's merger with Danish parent Danske Bank A/S.

The agency withdrew the Finnish unit's Aa3/Prime-1 long- and short-term local- and foreign-currency bank deposit ratings, A1 long-term issuer rating, "a3" adjusted baseline credit assessment, "baa1" baseline credit assessment and Aa2(cr)/Prime-1(cr) long- and short-term counterparty risk assessments.

The outlook was stable on the long-term deposit ratings and positive on the issuer rating. The withdrawal of the ratings reflects the bank's reorganization and legal integration into Danske Bank A/S, following which Danske Bank Oyj will be dissolved and cease to exist.