13 Jul 2015 – Company announcements

Standard & Poor’s changes outlook for Danske Bank’s A rating to stable

Company Announcement No. 26/2015

Standard & Poor’s (S&P) has changed its outlook for Danske Bank Group’s A rating from negative to stable because of Danske Bank’s improved earnings and improving capital base. The change has been made despite the fact that the implementation of the Bank Resolution Recovery Directive (BRRD) in Denmark in June 2015 led S&P to revise its rating of Danish banks because distressed banks are no longer expected to be bailed out by the Danish state.

“We see the change in outlook from S&P and the upgrade by Moody’s in June as an acknowledgement of our initiatives in recent years, and our ratings now meet our strategic ambitions for 2015,” says Henrik Ramlau-Hansen, CFO of Danske Bank.

Danske Bank’s current ratings after the change of outlook by S&P:

	Moody’s	S&P	Fitch
Long-term	A2	A	A
Short-term	P-1	A-1	F1
Outlook	Stable	Stable	Stable

Danske Bank A/S

Contact:
Claus Ingar Jensen, Head of Investor Relations, tel. +45 45 12 84 83
Kenni Leth, Group Press Officer, tel. +45 45 14 14 00

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