As concerns emerge over Swedbank’s handling of money-laundering allegations focused on the Baltic states, Scope has revised the outlook to negative on Swedbank’s A+ Issuer Rating, A senior unsecured debt rating, BB+ AT1 rating and S-1+ short term rating.

This rating action concludes the review initiated a month ago. It reflects Swedbank’s ability to weather weakness in Sweden’s housing market, reassuring financial metrics and steady growth strategy based on cost discipline and a strong digital offering.

Scope’s review will cover Swedbank’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.