Moody's downgraded three Sweden's banks

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Source: Marketwatch
Moody's cut long-term ratings of three Sweden's banks, citing g overreliance on wholesale funding, risk to asset quality and relatively low profit margins. The ratings agency lowered Nordea Bank AB and Svenska Handelsbanken AB by one notch to Aa3. The firm also cut rating of Landshypotek AB by two notches to Baa2. At the same time, Moody's reaffirmed its ratings for Swedbank AB and SEB at A2 and A1, respectively.
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Fri, 25 May 2012 11:13:50 GMT

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