REG - Royal Bk Scot.Grp. Royal Bk.of Scot. - RBS notes credit ratings downgrade by S&P <Origin Href="QuoteRef">RBS.L</Origin>

NatwestAnnouncement

03/02/2015 18:00

RNS Number : 9635D
Royal Bank of Scotland Group PLC
03 February 2015
The Royal Bank of Scotland Group plc 
RBS notes credit ratings downgrade by S&P
3 February 2014
The Royal Bank of Scotland Group plc ("RBS") notes the decision by Standard & Poor's Rating Services ("S&P") to:
 Downgrade the long term credit rating of The Royal Bank of Scotland Group plc by two notches to BBB- from BBB+ 
 Improve the credit rating outlook of The Royal Bank of Scotland Group plc to stable from negative, 
 Downgrade the short term rating of The Royal Bank of Scotland Group plc to A-3 from A-2
 Place the long-term ratings of The Royal Bank of Scotland plc and certain of its affiliates on CreditWatch with negative implications.
This action is not specific to RBS but reflects S&P's view that extraordinary government support is now unlikely in the case of U.K. non-operating bank holding companies, and is likely to become less predictable for bank operating companies in the U.K. under newly enacted legislation that fully implemented the bail-in rules enshrined in the EU's Bank Recovery and Resolution Directive with effect from 1 January 2015.
RBS welcomes S&P's decision to improve its long term outlook for The Royal Bank of Scotland Group plc to stable from negative. This action reflects S&P's view that RBS has made strong progress over the past 12-18 months in executing its restructuring plan.
For further information, please contact:
RBS Investor Relations
Matthew Richardson
Head of Debt Investor Relations
+44 (0) 20 7678 1800

This information is provided by RNS
The company news service from the London Stock Exchange
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