NatWest Group plc NatWest Group notes rating actions by Moody's (4915A)
September 23 2022 - 7:30AM
UK Regulatory
TIDMNWG TIDM83NF TIDMTTM
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 Outlook Short Long Outlook Short
Term Rating Term Rating Term Rating Term Rating
------------- --------- ------------- ------------- -------- -------------
NatWest Group Baa1 Positive P-2 A3 Stable P-2
plc
---------------- ------------- --------- ------------- ------------- -------- -------------
NatWest Markets A2 Positive P-1 A1 Stable P-1
Plc
---------------- ------------- --------- ------------- ------------- -------- -------------
NatWest Markets A2 Positive P-1 A1 Stable P-1
N.V.
---------------- ------------- --------- ------------- ------------- -------- -------------
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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