Current credit ratings for NatWest Group and its major subsidiaries.
Group Holding Company
NatWest Group plc
| |
Short-Term Rating |
Long-Term Rating |
Outlook |
Credit Reports |
| Moody's
|
P-2
|
A3
|
Stable
|
|
|
| S&P
|
A-2
|
BBB+
|
Stable
|
|
|
| Fitch
|
F1
|
A
|
Positive
|
|
|
| JCR
|
-
|
A+
|
Stable
|
|
|
Inside the Ring-Fence
National Westminster Bank Plc
| |
Short-Term Rating |
Long-Term Rating |
Outlook |
Credit Reports |
| Moody's
|
P-1
|
A11
|
Stable1
|
|
|
| S&P
|
A-1
|
A+
|
Stable
|
|
|
| Fitch
|
F1
|
A+
|
Positive
|
|
|
| JCR
|
-
|
AA-
|
Stable
|
|
|
NatWest Bank Europe GMBH
| |
Short-Term Rating |
Long-Term Rating |
Outlook |
Credit Reports |
| S&P
|
A-1
|
A+
|
Stable
|
|
|
| Fitch
|
F1
|
A+
|
Positive
|
|
|
The Royal Bank of Scotland plc
| |
Short-Term Rating |
Long-Term Rating |
Outlook |
Credit Reports |
| Moody's
|
P-1
|
A11
|
Stable1
|
|
|
| S&P
|
A-1
|
A+
|
Stable
|
|
|
| Fitch
|
F1
|
A+
|
Positive
|
|
|
Outside the Ring-Fence
NatWest Markets Plc
| |
Short-Term Rating |
Long-Term Rating |
Outlook |
Credit Reports |
| Moody's
|
P-1
|
A1
|
Stable
|
|
|
| S&P
|
A-1
|
A
|
Stable
|
|
|
| Fitch
|
F1
|
A+
|
Positive
|
|
|
| JCR
|
-
|
AA-
|
Stable
|
|
|
NatWest Markets N.V.
| |
Short-Term Rating |
Long-Term Rating |
Outlook |
Credit Reports |
| Moody's
|
P-1
|
A1
|
Stable
|
|
|
| S&P
|
A-1
|
A
|
Stable
|
|
|
| Fitch
|
F1
|
A+
|
Positive
|
|
|
NatWest Markets Securities Inc.
| |
Short-Term Rating |
Long-Term Rating |
Outlook |
Credit Reports |
| S&P
|
A-1
|
A
|
Stable
|
|
|
| Fitch
|
F1
|
A
|
Positive
|
|
|
The Royal Bank of Scotland International Limited
| |
Short-Term Rating |
Long-Term Rating |
Outlook |
Credit Reports |
| Moody's
|
P-1
|
A12
|
Stable2
|
|
|
| S&P
|
A-1
|
A
|
Stable
|
|
|
| Fitch
|
F1
|
A
|
Positive
|
|
|
Long-term ratings (Senior Unsecured Debt and/or Deposit Ratings for Moody’s, Issuer Credit Rating for S&P, Long-Term Issuer Default Rating for Fitch).
1Moody’s long-term Issuer and Deposit Rating. The ring-fenced bank operating companies do not issue rated senior unsecured debt. Nevertheless, Moody’s assigns an Issuer Rating. The outlook on both ratings is Stable.
2Moody’s Deposit rating. Senior Unsecured Debt rating is A2. The outlook on both ratings is Stable.
Further details on NatWest Group plc’s secured funding programmes are provided in the Securitisation and Covered bond sections of this website.
Disclaimer
No representation can be made that the data contained in the ratings reports is accurate and complete, and no liability is accepted in respect of the content of the ratings reports or the links to, and the contents of, the rating agency websites. The ratings reports posted herein are for informational purposes only and are not intended to constitute an offer or invitation to purchase or sell securities. Moreover, a rating is not a recommendation to buy, sell or hold securities and
may be subject to suspension, reduction or withdrawal at any time by the assigning rating agency. In addition, a credit rating downgrade could result in contractual outflows to meet collateral requirements on existing contracts. Outflows related to a multiple-notch credit rating downgrade are included in the LRA stress scenarios and a portion of the liquidity pool is held against this risk.