Nordea's New Finland-Based Parent Nordea Bank Abp Rated 'AA-/A-1+'; Outlook Stable

On Oct. 1, 2018, Nordea Bank AB merged with Nordea Bank Abp, the new Finnish parent of Nordea Group, in line with the group's plan to move its headquarters to Finland from Sweden. The consequent transfer of supervisory responsibility to the European Central Bank (ECB) doesn't change our view of Nordea group's business or financial positions. We are assigning our 'AA-/A-1+' ratings to Nordea Bank Abp and affirming all our issue ratings on debt transferred to Nordea Bank Abp from Nordea Bank AB. As a result of the merger, we are discontinuing our issuer credit ratings on Nordea Bank AB. The stable outlook indicates our view that Nordea will maintain its top position across its core Nordic markets as well

...+ On Oct. 1, 2018, Nordea Bank AB merged with Nordea Bank Abp, the new Finnish parent of Nordea Group, in line with the group's plan to move its headquarters to Finland from Sweden. + The consequent transfer of supervisory responsibility to the European Central Bank (ECB) doesn't change our view of Nordea group's business or financial positions. + We are assigning our '##-/A-1+' ratings to Nordea Bank Abp and affirming all our issue ratings on debt transferred to Nordea Bank Abp from Nordea Bank AB. + As a result of the merger, we are discontinuing our issuer credit ratings on Nordea Bank AB. + The stable outlook indicates our view that Nordea will maintain its top position across its core Nordic markets as well as its operating performance. FRANKFURT (S&P Global Ratings) Oct. 1, 2018--S&P Global Ratings today assigned its '##-/A-1+' long- and short-term issuer credit ratings to Finland-based Nordea Bank Abp. The outlook is stable. We also affirmed our issue ratings on debt issuance programs...

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