Credit ratings – RBS

Current credit ratings for RBS Group and its major subsidiaries.

RBSG and Subsidiary Credit Ratings and Ratings History

Group holding company

The Royal Bank of Scotland Group Plc

Inside the Ring-Fence

National Westminster Bank Plc

The Royal Bank of Scotland plc

Ulster Bank Limited

Ulster Bank Ireland DAC

Outside the ring-fence

NatWest Markets Plc (previously The Royal Bank of Scotland plc)

NatWest Markets N.V. (previously The Royal Bank of Scotland N.V.)

NatWest Markets Securities Inc. (previously RBS Securities Inc.)

The Royal Bank of Scotland International Limited

*For National Westminster Bank Plc, Ulster Bank Limited, Ulster Bank Ireland DAC and The Royal Bank of Scotland plc this rating reflects Moody’s long-term bank deposit ratings.

Outlook in the tables above represents the outlook on the Long-Term Issuer Default Rating for Fitch, senior unsecured debt rating for Moody’s and the Issuer Credit Rating for S&P.

Further details on RBS’s secured funding programmes are provided in the Securitisation and Covered bond sections of this website.


No representation can be made that the data contained in the ratings reports is accurate and complete, and no liability is accepted in respect of the content of the ratings reports or the links to, and the contents of, the rating agency websites. The ratings reports posted herein are for informational purposes only and are not intended to constitute an offer or invitation to purchase or sell securities. Moreover, a rating is not a recommendation to buy, sell or hold securities and may be subject to suspension, reduction or withdrawal at any time by the assigning rating agency. In addition, a credit rating downgrade could result in contractual outflows to meet collateral requirements on existing contracts. Outflows related to a multiple-notch credit rating downgrade are included in the LRA stress scenarios and a portion of the liquidity pool is held against this risk.


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