Moody’s rates Nordea Bank securities Ba1

Moody's Investors Service said it assigned a Ba1 (hyb) rating to the 'high trigger' additional tier 1 (AT1) securities issued in September 2014 by Nordea Bank AB (senior unsecured Aa3, negative; bank financial strength rating C stable/baseline credit assessment a3).

The outlook is stable, in line with the outlook on Nordea's unsupported ratings.

These perpetual non-cumulative AT1 securities rank junior to Tier 2 capital, pari passu with any other deeply subordinated debt securities and senior to all classes of Nordea's share capital and other capital instruments that qualify as common equity tier 1 (CET1) capital.

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