Bulletin: CreditWatch On Swedbank Maintained As Regulatory Investigations Continue

MADRID (S&P Global Ratings) July 2, 2019--S&P Global Ratings said today that it is maintaining on CreditWatch negative the unsecured debt ratings of Swedbank AB (AA-/Watch Neg/A-1+). We placed our CreditWatch following the money-laundering allegations brought to light in the first quarter of 2019, and the consequent negative market reaction and regulatory investigations in Sweden, the Baltics, and the U.S. We viewed these developments as a potential negative factor for Swedbank's creditworthiness (see "Swedbank AB Ratings On Watch Negative Due To Implications Of Authorities' Investigations Into Alleged Money Laundering," April 1, 2019). We note that these investigations, including a comprehensive internal review, are ongoing. We understand that the investigations by the Swedish and Baltic authorities will also assess the bank's

...July 2, 2019 MADRID (S&P Global Ratings) July 2, 2019--S&P Global Ratings said today that it is maintaining on CreditWatch negative the unsecured debt ratings of Swedbank AB (##-/Watch Neg/A-1+). We placed our CreditWatch following the money-laundering allegations brought to light in the first quarter of 2019, and the consequent negative market reaction and regulatory investigations in Sweden, the Baltics, and the U.S. We viewed these developments as a potential negative factor for Swedbank's creditworthiness (see "Swedbank AB Ratings On Watch Negative Due To Implications Of Authorities' Investigations Into Alleged Money Laundering," April 1, 2019). We note that these investigations, including a comprehensive internal review, are ongoing. We understand that the investigations by the Swedish and Baltic authorities will also assess the bank's compliance and risk management--both previous and current. Since March, Swedbank's management has taken a number of actions. The bank replaced its former...

Bulletin