On Oct. 11, 2005, Standard&Poor's Ratings Services revised its outlook on Sweden-based Skandinaviska Enskilda Banken (SEB) to positive from stable. At the same time, Standard&Poor's affirmed the 'A/A-1' counterparty credit ratings on SEB. The outlook revision reflects a broad-based improvement in operating performance since early 2004. This is underpinned by SEB's increasingly diversified revenue base and its solid corporate and merchant banking franchise in the Nordic-Baltic region. It is also supported by SEB's continued stable and good asset quality; the successful integration of Baltic operations; and the improved performance of the German banking arm after a long restructuring process. The affirmation of the ratings reflects the successful defense of SEB's core franchise in corporate banking, as
