REG - Jyske Bank A/S - S&P has revised Jyske Banks senior rating

Jyske Bank A/SAnnouncement

06/04/2018 08:20

RNS Number : 0836K
Jyske Bank A/S
06 April 2018
 

 
 
                                                                                       6 April 2018
 
 
 
Standard and Poors has revised Jyske Banks senior rating to "Positive outlook"




 
Standard and Poors (S&P) has published a changed outlook for Jyske Banks senior ratings; i.e. to "Positive outlook" from  "Stable outlook". Jyske Banks long term and short term ratings are A-/A-2 respectively.
 
The background for S&P's action is the requirements from the Danish FSA to Jyske Bank with respect to issuance of the so called MREL liabilities. Such liabilities have lower credit ranking than ordinary senior liabilities. Issuance of MREL liabilities will as a consequence gradually make up a larger loss absorbing buffer for senior creditors in Jyske Bank.
 
S&P reacts up front based on Jyske Banks funding plan of the required MREL issuance. The plan includes regular issuance over the coming years - starting in the 2nd half of 2018. The total issuance amount is expected to reach the interval DKK bn 15 - 18.
 
 
Yours faithfully,
 
 
Jyske Bank



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