The Royal Bank of Scotland Group plc (RBSG) is well advanced in addressing legacy risks and implementing a more focused, profitable business model. We think that RBSG's strengthened balance sheet and improving earnings enhance its capacity to manage current U.K. political and economic uncertainties. We are raising our long-term issuer and issue ratings on RBSG and its subsidiaries by one notch, including raising the issuer ratings on RBSG to 'BBB/A-2'. The stable outlook reflects our expectation that RBSG will maintain robust balance sheet metrics and strengthen its earnings toward management's targets. On May 16, 2019, S&P Global Ratings raised its issuer credit ratings on U.K. holding company The Royal Bank of Scotland Group plc (RBSG) to 'BBB/A-2' from 'BBB-/A-3'. We
