Credit rating agency Moody's has cut Nordea's senior unsecured debt rating from Aa2 to Aa3, according to Finwire.
Moody's affirmed the bank's Aa1 deposit rating, Finwire reported.
The downgrade reflects an expected weaker level of protection for bondholders in the event of a potential banking crisis, according to Finwire.
The outlook on both the senior unsecured and the deposit ratings is stable, Finwire said.
Source: finwire.com