Ratings

The Danske Bank Group is rated by the three major international credit rating agencies: Moody’s, Standard & Poor’s (S&P) and Fitch Ratings.

Danske Bank

	Moody's	S&P*	Fitch
Long-term	Baa1	A-	A
Short-term	P-2	A-2	F1
Outlook	Stable	Positive	Stable

Danske Bank - Covered Bonds

	Moody's	S&P*	Fitch
Cover pool D	Not rated	AAA	AAA
Outlook	Not rated	Stable	Stable
Cover pool I	Not rated	AAA	AAA
Outlook	Not rated	Stable	Stable
Cover pool C	Not rated	AAA	AAA
Outlook	Not rated	Stable	Stable
Cover pool R	Not rated	Not rated	Not rated

Danske Bank Plc (former Sampo Bank Plc)

	Moody's	S&P*	Fitch
Long-term	A2	A-	Not rated
Short-term	P-1	A-2	Not rated
Outlook	Stable	Positive	Not rated
Covered bonds	Aaa	Not rated	Not rated

Realkredit Danmark

	Moody's	S&P*	Fitch
Long-term	Not rated	Not rated	A
Short-term	Not rated	Not rated	F1
Outlook	Not rated	Not rated	Stable

Realkredit Danmark - Covered Bonds

	Moody's	S&P*	Fitch
General capital centre**	Not rated	AAA	Not rated
Outlook	Not rated	Stable	Not rated
Capital Centre S	Not rated	AAA	AAA
Outlook	Not rated	Stable	Stable
Capital Centre T	Not rated	AAA	AA+
Outlook	Not rated	Stable	Stable

Rating reports
In the tables below, you can download rating reports on Danske Bank in PDF.

Danske Bank

	Moody's	S&P*	Fitch
Full report	December 2011 (640 KB)	April 2013 (431 KB)	December 2012 (391 KB)
Update	May 2013 (126 KB)	March 2013 (268 KB)	June 2013 (43 KB)

* © by Standard & Poor's, A Division of the McGraw-Hill Companies, Inc. Reproduced with permission of Standard & Poor's. For more information on Standard & Poor's ratings, products and services, visit http://www.standardandpoors.com.
** The rating applies to mortgage bonds issued by Realkredit Danmark.

Danske Bank's long-term rating history