Credit ratings
SEB continuously focuses on improving the Group's rating. This is important, since a high rating over time implies lower funding costs and more business opportunities in the international capital markets. SEB is rated by Fitch, Moody's and S&P Global. Moody's also rates SEB's covered bonds.
The following table shows the current rating of SEB.
|
Fitch |
Moody's |
S&P Global |
|
| Stand-alone rating | aa- (viability rating) | a3 (baseline credit assessment) | A |
| Issuer credit rating |
AA- | Aa3 | A+ |
| Outlook | Stable | Positive | Positive |
| AT1 instruments | BBB+ | Baa3 (hyb) | |
| T2 subordinated debt | A | Baa1 | BBB+ |
| Senior non-preferred debt | AA- | A3 (junior senior) | A- (senior subord) |
| Senior unsecured debt | AA | Aa3 | A+ |
| Deposits | AA/F1+ | Aa3 | A-1 |
| Counterparty rating | AA(dcr) | Aa2/Prime-1 | AA- |
| Counterparty risk assessment | Aa2(cr)-Prime-1(cr) |
Most recent rating reports
Previous rating actions
S&P: Changed outlook from Stable to Positive, reflecting the view that SEB over the past decade has demonstrated strong execution of its organically led strategy, leading to robust and predictable profitability comparable with that of its higher rated peers. The positive outlook indicates that S&P expects SEB to resist the looming downside pressures and continue to generate risk-adjusted earnings comparable with higher-rated peers, while maintaining strong capitalisation.
Moody’s: Changed outlook from Stable to Positive reflecting view that higher RWA density and higher capital requirements will result in higher volumes of senior non-preferred debt being issued to meet MREL requirements.
Senior unsecured debt and deposits downgraded from Aa2 to Aa3 with Stable outlook following the Swedish resolution authority's proposal to amend its rules on MREL – Moody’s.
Changed from Negative to Stable outlook reflecting reduced downside risks as the economic recovery in SEB's home markets gathers pace - Fitch
Changed from Stable outlook to Negative outlook on senior unsecured debt and upgrade of AT1 instruments from Ba1 to Baa3 - Moody’s.
The changes are due to a change in the rating methodology in combination with anticipated lower volumes of senior unsecured funding.
Changed from Negative watch to Negative outlook – Fitch.
Changed from Stable outlook to Negative watch - Fitch
Upgraded to Aa2 – Moody’s
Upgrade of subordinated and junior subordinated debt – Standard & Poors.
Upgraded to AA- – Fitch
- Upgraded to Aa3 – Moody’s
- Changed outlook to stable – Standard & Poors
Contact us at SEB Investor Relations
Visiting address: SEB, Kungsträdgårdsgatan 8, Stockholm, Sweden
Switchboard: 0771-62 10 00, from abroad +46 771 62 10 00
Investor Relations contact page
Pawel Wyszynski, Head of Investor Relations, +46 70 462 21 11
Philippa Allard, Senior Debt Investor Relations Officer, +46 70 618 83 35
Per Andersson, Senior Investor Relations Officer, +46 70 667 74 81
Mikael Anttila, Senior Debt Investor Relations Officer, +46 70 580 26 18
Amelie Blecher, Head of Debt Investor Relations, +46 70 462 21 96
Paula Dennholt, Senior Sustainability Investor Relations Officer, +46 70 763 94 68
Malin Lundin, Investor Relations Officer, +46 70 763 50 50
Malin Schenkenberg, Senior Investor Relations Officer, +46 70 763 95 31