Danske Bank Group’s long-term rating has been upped from Baa1 to A3 by one of the biggest credit rating agencies, Moody's.
The higher rate represents an upper-medium grade and low credit risk for investments.
While Danske Bank's short-term rating has remained unchanged at P-2, Moody's raised the Group's baseline credit assessment (BCA) rating from baa2 to baa1.
The agency also changed its outlook for all the group's ratings from positive to stable.
Meeting strategic goals
“We are pleased to see Moody’s acknowledge the continually positive development at Danske Bank,” Henrik Ramlau-Hansen, the CFO of Danske Bank, said in a statement.
“With the Standard & Poor’s upgrade in April and this announcement from Moody’s, we are one step closer to meeting our strategic goals for improved ratings.”
In April this year, Standard & Poor’s credit agency raised Danske Bank Group’s long-term rating to A from A- and its short-term rating to A-1 from A-2.
