Ratings

Danske Bank Group’s credit ratings

Danske Bank A/S

Fitch Ratings

Moody's Ratings

S&P Global Ratings*

Scope Ratings

Debt type

Long-term

Short-term

Outlook

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

Rating anchor

a+

a3

a

Issuer credit rating

A+

F1

Stable

A1

P-1

Stable

A+

A-1

Stable

A+

S-1+

Positive

Additional Tier1 instruments

BBB

BBB-

Positive

Tier2 subordinated debt

A-

BBB+

Positive

Non-preferred senior debt

A+

A3

A-

A

Positive

Senior unsecured debt

AA-

F1+

A1

P-1

Stable

A+

A-1

A+

S-1+

Positive

Deposits

AA-

F1+

Aa3

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*

Scope Ratings

Debt type

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

Group status

Group rating

n/a

Core

Issuer credit rating

Not rated

Stable

Not rated

A+

S-1+

Positive

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*

Scope Ratings

Group status

n/a

Not public

n/a

Core

Issuer credit rating

n/a

Not public

n/a

A+

Positive

Danica Pension, Livsforsikringsaktieselskab

Fitch Ratings

Moody's Ratings

S&P Global Ratings*

Scope Ratings

Debt type

Long-term

Short-term

Outlook

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*

Scope Ratings

Debt type

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

Cover pool C

Not rated

AAA

Stable

AAA

Stable

Cover pool D

Not rated

AAA

Stable

AAA

Stable

Cover Pool I

Not rated

AAA

Stable

Not rated

Realkredit Danmark A/S

Fitch Ratings

Moody's Ratings

S&P Global Ratings*

Scope Ratings

Debt type

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

General Capital Center

Not rated

AAA

Stable

Not rated

Capital Center S

Not rated

AAA

Stable

AAA

Stable

Capital Center T

Not rated

AAA

A-1+

Stable

AAA

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*

Scope Ratings

Debt type

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

Long-term

Short-term

Outlook

EUR MTNCB

Not rated

Aaa

Not rated

AAA

Stable

* 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

Fitch, Moody's, S&P and Scope 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

Scope 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

Carola Saldias Castillo (lead)

+39 02 3054 4991

Download credit rating reports

Fitch Ratings	Moody's Ratings	Nordic Credit Rating	S&P Global Ratings	Scope Ratings
November 2025	February 2026	May 2025	January 2026	September 2025
November 2025	January 2026	April 2025	December 2025	July 2025
December 2024	December 2025	April 2025	December 2025	July 2025