Danske in quandary after S&P slashes RAC credit

By Will Caiger-Smith
18 Jul 2013

Danske Bank is considering what action to take after Standard & Poor’s changed its methodology for calculating the equity content of hybrid debt, downgrading its 2037 tier two bonds from ‘intermediate’ to ‘minimal’ equity content.

The change in methodology also affects Société Générale, which in November issued a perpetual tier two note primarily designed to get equity credit with S&P, following discussions with the ratings agency.

Last October,

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.