REG - NatWest Group plc Natwest Markets PLC NatWest Markets N.V. - NatWest Group notes rating actions by Moody's

NatwestAnnouncement

23/09/2022 12:45

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RNS Number : 4915A  NatWest Group plc  23 September 2022

NatWest Group notes rating actions by Moody's

 

23 September 2022

 

NatWest Group plc ("NWG") notes the decision by the credit rating agency
Moody's Investors Services ("Moody's") to upgrade a number of ratings of NWG,
NatWest Markets Plc ("NWM") and NatWest Markets N.V. ("NWM N.V."), including:

-    NWG's senior unsecured debt rating to A3 from Baa1, and NWM's senior
unsecured debt ratings to A1 from A2. NWM N.V.'s ratings were also upgraded to
A1 from A2 as they continue to remain aligned to those of NWM. The outlook on
these ratings was changed to stable from positive.

The upgrade of NWG reflects the upgrade of the group's notional Baseline
Credit Assessment ("BCA", Moody's opinion of a bank's standalone intrinsic
strength) to a3 from baa1. This in turn reflects "the group's improved
profitability, as well as lower execution risk of the planned phased
withdrawal from the Republic of Ireland and the finalisation of NWM's
restructuring". NWM's standalone BCA and Adjusted BCA were upgraded to baa3
from ba1 and to baa1 from baa2, respectively.

 

Moody's summary senior unsecured debt ratings:

                       Former                                           New
                       Long Term Rating    Outlook   Short Term Rating  Long Term Rating  Outlook  Short Term Rating
 NatWest Group plc     Baa1                Positive  P-2                A3                Stable   P-2
 NatWest Markets Plc   A2                  Positive  P-1                A1                Stable   P-1
 NatWest Markets N.V.  A2                  Positive  P-1                A1                Stable   P-1

 

A rating is not a recommendation to buy, sell or hold securities and may be
subject to suspension, change or withdrawal at any time by the rating agency.

For further information please contact:

NatWest Investor Relations

+44 (0) 207 672 1758

NatWest Media Relations:

+44 (0) 13 1523 4205

 

 

 

 

 

 

                        Legal Entity Identifier
                        2138005O9XJIJN4JPN90

 NatWest Group plc

                        RR3QWICWWIPCS8A4S074

 NatWest Markets Plc
                        X3CZP3CK64YBHON1LE12

 NatWest Markets N.V.

 

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