Moody's Cuts Nordea Bank's Debt Ratings; Outlook Stable

12:14 AM EDT, 10/14/2026 (MT Newswires) -- Moody's Ratings on Tuesday downgraded Nordea Bank's (NDA-FI.HE, NDA-DK.CO, NDA-SE.ST) senior unsecured debt ratings to Aa3 from Aa2, while affirming its Aa1 long-term deposit ratings. The outlook on the long-term senior unsecured ratings was revised to stable from negative, while that on the long-term deposit ratings remains stable. The stable outlook is based on the expectation that the Nordic lender will retain strong capitalization, asset quality, profitability, and liquidity. The downgrade mirrors the rating agency's expectation of lower protection for senior unsecured creditors in case of failure. The bank's long-term deposit ratings continue to reflect its a2 adjusted baseline credit assessment, which Moody's considers very low loss given failure for deposits, and a "moderate" chance of government support.