RBS welcomes credit ratings action by Moody's
The Royal Bank of Scotland Group plc
17 July 2018
RBS welcomes credit ratings action by Moody's
The Royal Bank of Scotland Group plc ("RBS") welcomes the decision by the credit rating agency Moody's Investors Service to:
· Upgrade the senior unsecured debt ratings of The Royal Bank of Scotland Group plc to Baa2 from Baa3 long-term and to P-2 from P-3 short-term and change the outlook to Positive.
· Affirm all ratings of NatWest Markets Plc, NatWest Markets N.V., National Westminster Bank Plc, The Royal Bank of Scotland Plc, Ulster Bank Limited and Ulster Bank Ireland DAC, and change the outlook on senior unsecured debt (where applicable) and deposit ratings to Positive from Stable.
The upgrade and the positive outlook reflect Moody's view the group has a stronger standalone credit profile, as well as Moody's expectation that the group's profitability will increase in the medium-term.
For further information please Contact:
Paul Pybus
Head of Debt Investor Relations
+44 (0) 20 7678 1153
RBS Media Relations:
+44 (0) 13 1523 4205
Forward-looking statements
This announcement contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, including (but not limited to) those related to RBS and its subsidiaries' regulatory capital position and requirements, financial position, future pension funding and contribution requirements, ongoing litigation and regulatory investigations, profitability and financial performance (including financial performance targets), structural reform and the implementation of the UK ring-fencing regime, the implementation of RBS's restructuring and transformation programme, impairment losses and credit exposures under certain specified scenarios, increasing competition from new incumbents and disruptive technologies and RBS's exposure to political risks, operational risk, conduct risk, cyber and IT risk and credit rating risk. In addition, forward-looking statements may include, without limitation, the words 'expect', 'estimate', 'project', 'anticipate', 'commit', 'believe', 'should', 'intend', 'plan', 'could', 'probability', 'risk', 'Value-at-Risk (VaR)', 'target', 'goal', 'objective', 'may', 'endeavour', 'outlook', 'optimistic', 'prospects' and similar expressions or variations on these expressions. These statements concern or may affect future matters, such as RBS's future economic results, business plans and current strategies. Forward-looking statements are subject to a number of risks and uncertainties that might cause actual results and performance to differ materially from any expected future results or performance expressed or implied by the forward-looking statements. Factors that could cause or contribute to differences in current expectations include, but are not limited to, legislative, political, fiscal and regulatory developments, accounting standards, competitive conditions, technological developments, interest and exchange rate fluctuations and general economic conditions. These and other factors, risks and uncertainties that may impact any forward-looking statement or RBS's actual results are discussed in RBS's UK 2017 Annual Report and Accounts (ARA) and other materials filed with, or furnished to, the US Securities and Exchange Commission. The forward-looking statements contained in this announcement speak only as of the date of this announcement and RBS does not assume or undertake any obligation or responsibility to update any of the forward-looking statements contained in this announcement, whether as a result of new information, future events or otherwise, except to the extent legally required.
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Legal Entity Identifier |
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The Royal Bank of Scotland Group plc |
2138005O9XJIJN4JPN90 |
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NatWest Markets Plc |
RR3QWICWWIPCS8A4S074 |
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National Westminster Bank Plc |
213800IBT39XQ9C4CP71 |
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The Royal Bank of Scotland plc |
549300WHU4EIHRP28H10 |
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Ulster Bank Limited |
213800BZ9V4RRA2IRN26 |
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Ulster Bank Ireland DAC |
635400KQIMALJ4XLAD78 |
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NatWest Markets N.V. |
X3CZP3CK64YBHON1LE12 |
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