On Oct. 17, 2006, Standard&Poor's Ratings Services raised its long-term counterparty credit rating on Sweden-based Skandinaviska Enskilda Banken AB (SEB) to 'A+' from 'A'. At the same time, the 'A-1' short-term counterparty credit rating was affirmed. The outlook is stable. The rating change reflects SEB's continued improvement in profitability, and sustained good asset quality in the past two to three years, indicating a fundamental improvement in financial performance. Furthermore, this has been achieved while preserving prevailing risk profile levels. The rating action also reflects the bank's consistent strategy in streamlining processes, and promoting integration among the group's different business units, with the ultimate purpose of building a platform for future growth and profitability in the Nordic and Baltic
