DBRS confirms RBS’s Short-Term Ratings, Stable Trend Following Application of Floor Rating Concept

DBRS has today confirmed the short-term ratings of Royal Bank of Scotland Group plc (RBS), at R-1 (middle). The trend is stable. Concurrently, the short-term debt ratings have been removed from Under Review with Negative Implications. The Company’s Senior Debt & Deposits ratings remain Under Review with Negative Implications where they were placed on 19 January 2009.

This rating action follows DBRS’s introduction of the floor rating concept in the UK and DBRS’s view that RBS is a Critically Important Banking organisation (CIB) in the United Kingdom. Within this methodology, RBS’s ratings, including its short-term ratings, are now subject to the floor rating, which in the UK is A (high) for senior long-term debt and deposits and R-1 (middle) for short-term debt and deposits at the bank level and “A” and R-1 (middle) at the holding company. The trend on the aforementioned floor ratings is Stable. Accordingly, the trend on RBS’s short-term debt is now Stable.

Notes:

The applicable methodologies are Analytical Background and Methodology for European Bank Ratings, Second Edition, and Enhanced Methodology for Bank Ratings – Intrinsic and Support Assessments which can be found on our website under Methodologies.

This is a Corporate (Financial Institutions) rating.