Following implementation in Swedish law of a new class of senior non-preferred debt, Scope rates Svenska Handelsbanken’s senior non-preferred debt at A+ and upgrades senior unsecured (non-MREL eligible) debt one notch to AA-, both with Stable Outlook.

This rating action concludes the review initiated a month ago. It reflects Handelsbanken’s ability to weather weakness in Sweden’s housing market, prudent growth strategy, and reassuring financial metrics.

Scope’s review will cover Handelsbanken’s ability to weather weakness in Sweden’s housing market and the effects of the Swedish regulator’s related macro-prudential measures, as well as expected changes to capital requirements for Swedish mortgages.