Current rating

Current Ratings Previous rating actions Rating scales Current Ratings

Current ratings

September 2015

Rating

Moody'sStandard & Poor'sFitchDBRS
ShortLongShortLongShortLongShortLong
Nordea Bank AB (publ)P-1Aa3
A-1+AA-**F1+AA-R-1 (mid)AA (low)
Nordea Bank DanmarkP-1Aa3
A-1+AA-**F1+AA-R-1 (mid)AA (low)
Nordea Bank FinlandP-1Aa3
A-1+AA-**F1+AA-R-1 (mid)AA (low)
Nordea Bank NorgeP-1Aa3
A-1+AA-**F1+AA-R-1 (mid)AA (low)
Nordea HypotekAaa *AAA *
Nordea KreditAaa *AAA *
Nordea Eiendomskreditt ASAaa *
Nordea Bank FinlandAaa *

*) Covered bond rating. **) Negative outlook as of the 20th November 2012.

Previous rating actions

Please note that their were no actions taken during 2013, 2010, 2008, 2006, 2002.

2014

29.05.2014

As part of a broad review of 109 European banks, Moody’s Investors Service has announced that Nordea Bank AB (publ), Nordea Bank Finland plc and Nordea Bank Norge ASA are among 82 banks to have their long-term credit rating set on negative outlook. The rating for each bank is unchanged and confirmed.

2012

20.11.2012

Standard & Poor's revised its outlook for eight Swedish banks to negative due to a weakening economic outlook and increasing economic risks for the banking sector. At the same time, Nordea's rating was affirmed.

25.05.2012

As part of a broad review of 114 European banks, Moody’s has announced that the credit rating for Nordea Bank AB (publ) has been lowered by one notch to Aa3, with stable outlook.

Nordea Bank Danmark, Nordea Bank Finland and Nordea Bank Norge have also been lowered one notch to A1, Aa3 and Aa3 respectively.

2011

19.05.2011

Following a change of view from Moody's upon the Danish banking sector, a number of the largest Danish banks were downgraded.

Nordea Bank Danmark's long-term rating was changed one notch from Aa2 to Aa3.

2009

09.09.2009 

Together with a number of Nordic banks, Nordea was downgraded when Moody’s conducted a calibration of ratings for the whole sector. The long-term rating was lowered from Aa1 to Aa2 for Nordea Bank AB, Nordea Bank Finland plc, Nordea Bank Norge ASA and Nordea Bank Danmark A/S.

2007

10.04.2007

Moody’s Investors Service lowered the long-term local currency debt and deposit rating for Nordea Bank AB, Nordea Bank Finland plc, Nordea Bank Norge ASA and Nordea Bank Danmark A/S from Aaa to Aa1.

A total of 44 banks were downgraded following Moody’s refinement of its bank rating methodology which incorporates joint default analysis (JDA).

The refined methodology, released on March 30th, reduces the level of external support incorporated into bank deposits and debt ratings in order to give greater weight to the intrinsic financial strength of the financial institution.

26.02.2007

As part of the planned application of its joint default analysis (JDA) methodology and its updated bank financial strength rating (BFSR) methodology, Moody's Investors Service upgraded Nordea Bank AB, Nordea Bank Finland plc, Nordea Bank Norge ASA and Nordea Bank Danmark A/S long-term ratings to Aaa from Aa3.

2005

29.11.2005

Standard & Poor’s raised its counterparty credit ratings on Nordea Bank AB, Nordea Bank Finland, Nordea Bank Danmark and Nordea Bank Norge to AA-/A-1+ from A+/A-1 and Nordea Hypotek to A-1+ from A-1.

01.02.2005

Moody’s placed under review for possible upgrade the B Financial Strength Rating of Nordea Bank Danmark.

2004

09.11.2004

Standard & Poor’s changed its outlook to positive from stable on Nordea Bank AB and its related entities Nordea Bank Finland, Nordea Bank Norge and Nordea Bank Danmark.

19.10.2004

Standard & Poor’s assigned its AAA long-term credit rating to the Danish covered bonds (“Realkreditobligationer”) issued by Nordea Kredit.

02.03.2004

Fitch assigned ratings to Nordea Bank AB and withdrew Nordea Bank Sweden’s ratings.

01.03.2004

Moody’s and Standard & Poor’s assigned ratings to Nordea Bank AB and withdrew the ratings on Nordea Bank Sweden.

2003

01.08.2003

Moody’s upgraded to Aaa from Aa1 the ratings of the mortgage bonds issued by Nordea Kredit.

2001

16.08.2001

Fitch upgraded to AA-/F1+ from A+/F1 the long-term and short-term ratings of the banking subsidiaries of Nordea AB. The individual rating of Unibank was upgraded to B from B/C .

06.07.2001

Moody’s upgraded to Aa3 from A1 the long-term ratings of Christiania Bank and confirmed its bank financial strength rating at B- with a positive outlook.

06.07.2001

Moody’s upgraded to A1 from A2 the long-term rating of Norgeskreditt.

14.06.2001

Standard & Poor’s assigned its A+ long-term rating on Christiania Bank and affirmed its A-1 short-term rating.

10.04.2001

Moody’s adjusted financial strength rating of Christiania Bank to B-.

21.03.2001

Moody’s upgraded to Aa1 from Aa2 the rating of Unikredit.

10.01.2001

Moody’s upgraded to A1/C+ from A2/C the long-term and financial strength ratings of Christiania Bank and changed the outlook for the long-term ratings to positive from stable.

10.01.2001

Moody’s changed to positive from negative the outlook for Norgeskreditt’s A2 long-term rating.

2000

17.10.2000

Moody’s placed under review for possible upgrade the A2 long-term and C financial strength ratings of Christiania Bank.

17.10.2000

Moody’s placed under review for possible upgrade the A2 long-term rating of Norgeskreditt.

17.10.2000

All the rating institutions affirmed the ratings of operating banks of Nordic Baltic Holding Group.

12.09.2000

Standard & Poor’s assigned its A+ long-term rating to Unibank and raised its long-term ratings on Merita Bank and Nordbanken to A+ from A.

18.08.2000

Fitch raised the individual rating of Merita Bank to B from C.

05.06.2000

Moody’s upgraded to Aa3/B the long-term and financial strength ratings of Merita Bank, Nordbanken and Unibank.

05.06.2000

Moody’s upgraded to Aa2 from Aa3 the long-term rating of Unikredit.
Rating scales


Moody'sStandard & Poor'sFitchDBRS
ShortLongShortLongShortLongShortLong
P-1AaaA-1+AAAF1+AAAR-1 (high)AAA
P-2Aa1A-1AA+F1AA+R-1AA (high)
P-3Aa2A-2AAF2AAR-1 (low)AA
No primeAa3A-3AA-F3AA-R-2 (high)AA (low)
A1BA+BA+R-2A (high)
A2CACAR-2 (low)A
A3DA-DA-R-3A (low)
Baa1BBB+BBB+R-4BBB (high)
Baa2BBBBBBR-5BBB
Baa3BBB-BBB-DBBB (low)
............