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Danske bank sees it credit rating downgraded
Wednesday, 30 May 2012
Standard & Poor's has lowered the credit rating of Danish banking
giant Danske Bank's long-term credit by one level to A- (A minus) from
A and the the view of the score has been adjusted upwards from negative
According to the press release which carried the news, the downgrade is
motivated by the S & P expectation that that Danske Bank will
continue to be weighed down by losses in its Irish operations, in the
wake of the continued weak real estate market in the country. S & P
added that the bank faces continued challenges in some sectors in
According to Danske Bank's chief financial officer, Henrik
Ramlau-Hansen, the S & P's decision to downgrade is unexpected in
light that loan losses in Ireland and Denmark actually declined in the
first quarter, compared with the fourth quarter of last year.
"Our obvious goal is to regain our former credit as soon as possible
through the measures we have already implemented and what we will do
going forward, "continued the Chief Financial Officer.
By Scancomark.se Team
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