Royal Bank of Scotland Group plc, The

Ratings

• NatWest Group plc

  Date Issued	Debt Rated	Rating	Trend	Action	Attributesi US = Lead Analyst based in USA CA = Lead Analyst based in Canada EU = Lead Analyst based in EU UK = Lead Analyst based in UK E = EU endorsed U = UK endorsed Unsolicited Participating With Access Unsolicited Participating Without Access Unsolicited Non-participating
  18-Jun-15	Senior Debt & Deposits	BBB (high)	--	UR-Neg.	UK E
  18-Jun-15	Short-Term Notes	R-2 (high)	--	UR-Neg.	UK E

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• NatWest Markets N.V.

  Date Issued	Debt Rated	Rating	Trend	Action	Attributesi US = Lead Analyst based in USA CA = Lead Analyst based in Canada EU = Lead Analyst based in EU UK = Lead Analyst based in UK E = EU endorsed U = UK endorsed Unsolicited Participating With Access Unsolicited Participating Without Access Unsolicited Non-participating
  18-Jun-15	Long-Term Debt and Deposits	A (low)	--	UR-Neg.	UK E
  18-Jun-15	Short-Term Debt and Deposits	R-1 (low)	Stb	Confirmed	UK E
  18-Jun-15	Subordinated Debt	BBB	Neg	Confirmed	UK E

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• NatWest Markets Plc

  Date Issued	Debt Rated	Rating	Trend	Action	Attributesi US = Lead Analyst based in USA CA = Lead Analyst based in Canada EU = Lead Analyst based in EU UK = Lead Analyst based in UK E = EU endorsed U = UK endorsed Unsolicited Participating With Access Unsolicited Participating Without Access Unsolicited Non-participating
  18-Jun-15	Senior Debt & Deposits	A (low)	--	UR-Neg.	UK E
  18-Jun-15	Short-Term Notes	R-1 (low)	Stb	Confirmed	UK E

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• RBS Capital Funding Trust V

  Date Issued	Debt Rated	Rating	Trend	Action	Attributesi US = Lead Analyst based in USA CA = Lead Analyst based in Canada EU = Lead Analyst based in EU UK = Lead Analyst based in UK E = EU endorsed U = UK endorsed Unsolicited Participating With Access Unsolicited Participating Without Access Unsolicited Non-participating
  18-Jun-15	Preference Shares	BB	Neg	Confirmed	UK

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• RBS Capital Funding Trust VI

  Date Issued	Debt Rated	Rating	Trend	Action	Attributesi US = Lead Analyst based in USA CA = Lead Analyst based in Canada EU = Lead Analyst based in EU UK = Lead Analyst based in UK E = EU endorsed U = UK endorsed Unsolicited Participating With Access Unsolicited Participating Without Access Unsolicited Non-participating
  18-Jun-15	Preference Shares	BB	Neg	Confirmed	UK

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• RBS Capital Funding Trust VII

  Date Issued	Debt Rated	Rating	Trend	Action	Attributesi US = Lead Analyst based in USA CA = Lead Analyst based in Canada EU = Lead Analyst based in EU UK = Lead Analyst based in UK E = EU endorsed U = UK endorsed Unsolicited Participating With Access Unsolicited Participating Without Access Unsolicited Non-participating
  18-Jun-15	Preference Shares	BB	Neg	Confirmed	UK

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• RBS Holdings N.V.

  Date Issued	Debt Rated	Rating	Trend	Action	Attributesi US = Lead Analyst based in USA CA = Lead Analyst based in Canada EU = Lead Analyst based in EU UK = Lead Analyst based in UK E = EU endorsed U = UK endorsed Unsolicited Participating With Access Unsolicited Participating Without Access Unsolicited Non-participating
  18-Jun-15	Long-Term Debt	BBB (high)	--	UR-Neg.	UK

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