STOCKHOLM: Standard & Poor's downgraded on Tuesday its outlook for Sweden's four biggest banks to negative from stable due to rising economic risks as part of a wider action on the financial sector.
The ratings service said in a statement that it had revised its outlook on eight Swedish banks to negative, including the region's biggest bank Nordea, Handelsbanken, SEB and Swedbank.
"We forecast higher economic risks for the Swedish banking industry, based on indications of a sharper economic slowdown than we previously expected," it said.
A worsening of economic risks could lead to a one notch ratings downgrade, it added.
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