Analysts at Moody's Investor Service downgraded the three largest banks in the Nordic region, citing the high level of competition in retail lending, as well as the spread of the crisis in the eurozone. However, it should be noted that the downgrade was small compared with the Spanish and Italian representatives of the industry, which confirms the high position of the creditors of Scandinavian competitors.

Thus, analysts Moody's lowered the credit and deposit ratings of Swedish banks Nordea and Handelsbanken by one notch to Aa3, while the Norwegian lender DNB rating was lowered one level as before the A1/C-.