Following a review under Standard&Poor's revised bank criteria (published on Nov. 9, 2011), we have raised our ratings on Skandinaviska Enskilda Banken AB (SEB) to 'A+' from 'A' and affirmed the short-term rating at 'A-1'. The outlook is stable. The ratings reflect our view of SEB's adequate business position, adequate capital and earnings, adequate risk position, average funding, and adequate liquidity. The stable outlook reflects our belief that the bank will maintain stability in its broad revenue base and continue to generate capital. As we previously announced on Dec. 1, 2011, Standard&Poor's Ratings Services has raised its long-term counterparty credit ratings on Sweden-based Skandinaviska Enskilda Banken AB (publ) (SEB) to 'A+' from 'A' and affirmed the
