In the context of Scope Ratings’ strategy of focussing on the needs of institutional investors, Scope will offer its unsolicited bank and covered bond credit ratings on a subscription basis only via its credit intelligence platform.

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.

Scope Ratings has updated its rating report on Swedbank's AT1 securities.

The rating actions include new ratings on AT1 securities and an upgrade of Barclays plc’s AT1 securities. In addition, this is the first time that Scope rates the AT1 securities of The Royal Bank of Scotland Group plc.