Ratings

Danske Bank Group’s credit ratings

Danske Bank A/S

Fitch Ratings

Moody's Ratings

S&P Global Ratings*

Debt type

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

Standalone rating

Viability rating

Baseline credit assessment

Standalone credit profile

a+

a3

a

Issuer credit rating

AA

F1+

Stable

A1

P-1

Stable

A+

A-1

Positive

Additional Tier1 instruments

BBB

BBB-

Tier2 subordinated debt

A-

BBB+

Non-preferred senior debt

A+

A3

A-

Senior unsecured debt

AA

F1+

A1

P-1

Stable

A+

A-1

Deposits

AA

F1+

Aa2

P-1

Stable

Counterparty rating

AA (dcr)

Aa2

P-1

AA-

A-1+

Counterparty Risk Assessment

Aa2(cr)

P-1(cr)

Realkredit Danmark A/S

Fitch Ratings

Moody's Ratings

S&P Global Ratings*

Debt type

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

Group status

n/a

Core

Issuer credit rating

Not rated

Stable

Not rated

Danske Hypotek AB

Fitch Ratings

Moody's Ratings

S&P Global Ratings*

Nordic Credit Rating

Group status

n/a

Issuer credit rating

n/a

Aa2(cr)/P-1(cr)

n/a

A+

N2

Stable

Danske Mortgage Bank Plc

Fitch Ratings

Moody's Ratings

S&P Global Ratings*

Group status

n/a

Not public

n/a

Issuer credit rating

n/a

Not public

n/a

Danica Pension, Livsforsikringsaktieselskab

Fitch Ratings

Moody's Ratings

S&P Global Ratings*

Debt type

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

Issuer Credit Rating

Not rated

Covered bond programs

Danske Bank A/S

Fitch Ratings

Moody's Ratings

S&P Global Ratings*

Debt type

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

Cover pool C

Not rated

AAA

Stable

Cover pool D

Not rated

AAA

Stable

Cover Pool I

Not rated

AAA

Stable

Realkredit Danmark A/S

Fitch Ratings

Moody's Ratings

S&P Global Ratings*

Debt type

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

General Capital Center

Not rated

AAA

Stable

Capital Center S

Not rated

AAA

Stable

Capital Center T

Not rated

AAA

A-1+

Stable

Danske Hypotek AB

Fitch Ratings

Moody's Ratings

S&P Global Ratings*

Nordic Credit Rating

Debt type

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

SEK covered bond program

Not rated

Aaa

Not rated

AAA

EUR MTNCB

Not rated

Danske Mortgage Bank Plc

Fitch Ratings

Moody's Ratings

S&P Global Ratings*

Debt type

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

EUR MTNCB

Not rated

Aaa

Not rated

* Copyright by S&P Global, a division of the McGraw-Hill Companies, Inc. Reproduced with permission of S&P Global. For more information on S&P Global Ratings, products and services, visit www.spglobal.com/ratings/en/.

n/a = not applicable

Danske Bank Group's issuer credit rating history

S&P, Moody's and Fitch each have their own rating scales, where the highest possible credit rating is AAA/Aaa.

Contacts:

Fitch Ratings

Moody's Ratings

Nordic Credit Rating

S&P Global Ratings

Jakub Kopiec (lead)

+48 22 103 3020

Anders Vidén (back-up)
+46 (0) 850 51 78 06

Niclas Boheman (lead)
+46 (0) 8 517 912 81

Sean Cotten (lead)
+46 (0) 73 56 00 337

Niklas Dahlström (lead)

+46 (0) 8 440 53 58

Harm Semder (back-up)

+49 (0) 69 33 999 158

Download credit rating reports

Fitch Ratings	Moody's Ratings	Nordic Credit Rating	S&P Global Ratings
May 2026	April 2026	April 2026	August 2026
November 2025	April 2026	April 2026	August 2026
November 2025	March 2026	May 2025	July 2026