NatWest Group plc notes rating actions by Fitch

27 June 2025

NatWest Group plc ("NWG") and its subsidiaries note the decision by the credit rating agency Fitch Ratings (Fitch) to upgrade a number of ratings of NWG and its subsidiaries on 25 June, including:

·      Raising NWG's Viability Rating to a+ from a;

·      Raising the long-term Issuer Default Rating on NWG to 'A+' from 'A' and affirming the F1 Short-Term Issuer Default Rating; 

·      Raising the long-term ratings to 'AA-' from 'A+', and upgrading the short-term ratings to 'F1+' from 'F1' on NatWest Bank plc, Royal Bank of Scotland plc, NatWest Bank Europe GMBH, NatWest Markets Plc, NatWest Markets N.V.;

·      Upgrading the long-term ratings of The Royal Bank of Scotland International Limited to 'AA-' from 'A' and upgrading the Short Term rating to 'F1+' from 'F1';

·      Upgrading the long-term rating of NatWest Markets Securities Inc. to 'A+' from 'A' and affirmed the short-term rating at 'F1';

·      Upgrading all rated debt issuance from NWG and its subsidiaries in line with the above actions.

The outlook on all rated entities is now Stable.

Summary of Fitch senior unsecured debt ratings:

A rating is not a recommendation to buy, sell or hold securities and may be subject to suspension, change or withdrawal at any time by the rating agency.

For further information please contact:

NatWest Investor Relations

+44 (0) 207 672 1758

NatWest Media Relations:

+44 (0) 13 1523 420