Danske Bank A/S: Rating Report

Ratings

• Danske Bank A/S

  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
  08-Aug-17	Long-Term Issuer Rating	A	Pos	Trend Change	UK U
  08-Aug-17	Short-Term Issuer Rating	R-1 (low)	Pos	Trend Change	UK U
  08-Aug-17	Long-Term Senior Debt	A	Pos	Trend Change	UK U
  08-Aug-17	Short-Term Debt	R-1 (low)	Pos	Trend Change	UK U
  08-Aug-17	Short-Term Deposits	R-1 (low)	Pos	Trend Change	UK U
  08-Aug-17	Long Term Critical Obligations Rating	AA (low)	Pos	Trend Change	UK U
  08-Aug-17	Short Term Critical Obligations Rating	R-1 (middle)	Pos	Trend Change	UK U
  08-Aug-17	Dated Subordinated Debt	BBB	Pos	Trend Change	UK U
  08-Aug-17	Long-Term Deposits	A	Pos	Trend Change	UK U
  08-Aug-17	Hybrid Tier 1 Capital Notes	BBB	Pos	Trend Change	UK U

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• Danske Bank 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
  08-Aug-17	Long-Term Issuer Rating	A (low)	Pos	Trend Change	UK
  08-Aug-17	Short-Term Issuer Rating	R-1 (low)	Stb	Confirmed	UK
  08-Aug-17	Long-Term Senior Debt	A (low)	Pos	Trend Change	UK
  08-Aug-17	Short-Term Debt	R-1 (low)	Stb	Confirmed	UK
  08-Aug-17	Short-Term Deposits	R-1 (low)	Stb	Confirmed	UK
  08-Aug-17	Long-Term Deposits	A (low)	Pos	Trend Change	UK

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