Sydbank — Regulatory Filings 2012

May 31, 2012

News Details

UK Regulatory | 31 May 2012 08:42

Moody’s has lowered Sydbank’s rating

Sydbank A/S / Miscellaneous

31.05.2012 08:42

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Aabenraa, 2012-05-31 08:41 CEST (GLOBE NEWSWIRE) --
Moody's has lowered its rating of Sydbank by two notches from A2 to Baa1 (long
term) and from P-1 to P-2 (short term). Moreover, the Bank's rating outlook has
been changed from negative to stable. The change forms part of the overall
change which Moody's announced earlier this year as regards more than 100
European banks.

According to Moody's the drivers justifying the change include: difficult
market conditions in Denmark with low growth, rising impairment charges and
falling profitability. In addition, Moody's is concerned about the Danish
banks' funding situation.

In its evaluation of Sydbank, Moody's notes that the problems concerning
Sydbank's loan book are among the smallest of the rated Danish banks and that
the Bank's funding and liquidity situation is comfortable.

It is not expected that the rating action will have a major impact on the
Bank's comfortable funding and liquidity situation. The Bank refinanced its
2012 and 2013 need for long-term funding already in February. In the long term
the rating action may lead to rising funding costs.

Yours sincerely

Karen Froesig Preben L. Hansen

CEO Deputy Group Chief Executive

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Language: English
Company: Sydbank A/S

                Denmark

Phone:
Fax:
E-mail:
Internet:
ISIN: DK0010311471
Category Code: MSC
LSE Ticker: 0G6U
Sequence Number: 1102
Time of Receipt: May 31, 2012 08:41:54

End of Announcement DGAP News-Service

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