Natwest Group PLC

Capital/Financing Update • Jun 27, 2025

National Storage Mechanism | Additional information

RNS Number : 7931O

NatWest Group plc

27 June 2025

NatWest Group plc notes rating actions by Fitch

27 June 2025

NatWest Group plc ("NWG") and its subsidiaries note the decision by the credit rating agency Fitch Ratings (Fitch) to upgrade a number of ratings of NWG and its subsidiaries on 25 June, including:

·      Raising NWG's Viability Rating to a+ from a;

·      Raising the long-term Issuer Default Rating on NWG to 'A+' from 'A' and affirming the F1 Short-Term Issuer Default Rating; 

·      Raising the long-term ratings to 'AA-' from 'A+', and upgrading the short-term ratings to 'F1+' from 'F1' on NatWest Bank plc, Royal Bank of Scotland plc, NatWest Bank Europe GMBH, NatWest Markets Plc, NatWest Markets N.V.;

·      Upgrading the long-term ratings of The Royal Bank of Scotland International Limited to 'AA-' from 'A' and upgrading the Short Term rating to 'F1+' from 'F1';

·      Upgrading the long-term rating of NatWest Markets Securities Inc. to 'A+' from 'A' and affirmed the short-term rating at 'F1';

·      Upgrading all rated debt issuance from NWG and its subsidiaries in line with the above actions.

The outlook on all rated entities is now Stable.

Summary of Fitch senior unsecured debt ratings:

	Former			New
Long Term Rating	Outlook	Short Term Rating	Long Term Rating	Outlook	Short Term Rating
NatWest Group plc	A	Positive	F1	A+	Stable	F1
National Westminster Bank plc The Royal Bank of Scotland plc NatWest Bank Europe GMBH NatWest Markets Plc NatWest Markets N.V.	A+	Positive	F1	AA-	Stable	F1+
NatWest Markets Securities Inc	A	Positive	F1	A+	Stable	F1
The Royal Bank of Scotland International Ltd	A	Positive	F1	AA-	Stable	F1+

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 420

	Legal Entity Identifier
NatWest Group plc National Westminster Bank plc The Royal Bank of Scotland plc NatWest Bank Europe GMBH NatWest Markets Plc NatWest Markets N.V. NatWest Markets Securities Inc The Royal Bank of Scotland International Ltd	2138005O9XJIJN4JPN90 213800IBT39XQ9C4CP71 549300WHU4EIHRP28H10 894500M8C9DWGV7L2Q81 RR3QWICWWIPCS8A4S074 X3CZP3CK64YBHON1LE12 ZE2ZWJ5BTIQJ8M0C6K34 21380078CCZSEEIIKA41

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