Moody's decreases Swedbank's ratings to 'B1'

Moody’s Investors Service reported that it had cut the long-term local currency deposit ratings of Swedbank and Swedbank Invest (a fully consolidated subsidiary of Swedbank), and the local currency debt rating of Swedbank Invest from ‘Ba2’ to ‘B1.’ The bank financial strength ratings of both issuers were cut from ‘E+’ to ‘E.’ The outlook on all the ratings is negative.