Company Announcements

NatWest welcomes credit rating actions by Moody’s

Source: RNS
RNS Number : 1914F
NatWest Group plc
14 July 2021
 

NatWest Group plc

14 July 2021

 

 

 

NatWest Group notes positive credit rating actions by Moody's

NatWest Group plc

14 July 2021

 

NatWest Group plc ("NWG") notes the decision by the credit rating agency Moody's Investors Services ("Moody's") to upgrade a number of ratings across the group, including to:

-      Upgrade the senior unsecured debt rating of NWG to Baa1 (from Baa2) as a result of an upgrade of the group's notional Baseline Credit Assessment ("BCA", Moody's opinion of a bank's standalone intrinsic strength) to baa1 (from baa2). The outlook is positive.

-      Upgrade the issuer rating of National Westminster Bank Plc and The Royal Bank of Scotland plc to A1 (from A2), reflecting a stronger BCA. The outlook is stable.

-      Upgrade the senior unsecured debt rating of NatWest Markets Plc and NatWest Markets N.V. ("NWM") to A2 (from A3) with a positive outlook and the short-term debt rating to P-1 from P-2. The outlook is positive.

-      Moody's also upgraded NWG's subordinated debt ratings to Baa2 (from Baa3), the junior subordinated debt ratings to Baa3(hyb) (from Ba1(hyb)) and the pref. stock non-cumulative ratings to Ba1(hyb) (from Ba2(hyb)). NWM's subordinated debt ratings were upgraded to Baa2 (from Ba1) and the junior subordinated debt ratings to Baa3(hyb) (from Ba2(hyb)).

 

Moody's summary senior unsecured debt ratings:

 

Long Term Rating

Outlook

Short Term Rating

NatWest Group plc

Baa1         

Positive

P-2

Inside the ring-fence

 

 

 

National Westminster Bank Plc*

A1      

Stable

P-1

The Royal Bank of Scotland plc*

A1      

Stable

P-1

Outside the ring-fence

 

 

 

NatWest Markets Plc

A2     

Positive

P-1

NatWest Markets N.V.

A2     

Positive

P-1

 

 

 

 

 

* For National Westminster Bank Plc and The Royal Bank of Scotland plc the Issuer Rating is shown in place of the senior unsecured debt ratings.

 

 

 

 

A rating is not a recommendation to buy, sell or hold securities and may be subject to suspension, change or withdrawal at any time by the rating agency.
 

For further information please contact:

Paul Pybus

Head of Debt Investor Relations

+44 (0) 207 672 1758

NatWest Media Relations:

+44 (0) 13 1523 4205

 

 

 

 

Legal Entity Identifier

NatWest Group plc

2138005O9XJIJN4JPN90

National Westminster Bank Plc

213800IBT39XQ9C4CP71

The Royal Bank of Scotland plc

549300WHU4EIHRP28H10

NatWest Markets Plc

RR3QWICWWIPCS8A4S074

NatWest Markets N.V.

X3CZP3CK64YBHON1LE12

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCGUGDRDSBDGBS
image