FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
 
 
Report of Foreign Private Issuer
 
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
 
For 23 September, 2022
Commission File Number: 001-10306
 
NatWest Group plc
 
RBS, Gogarburn, PO Box 1000
Edinburgh EH12 1HQ
 
(Address of principal executive offices)
 
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
 
   Form 20-F X  Form 40-F ___
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):_________
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):_________
 
 
 
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
 
Yes ___  No X
 
 
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________
 
 
 
 
The following information was issued as Company announcements in London, England and is furnished pursuant to General Instruction B to the General Instructions to Form 6-K: 
 
 
 
 
 
 
 
 
NatWest Group notes rating actions by Moody's
 
23 September 2022
 
NatWest Group plc ("NWG") notes the decision by the credit rating agency Moody's Investors Services ("Moody's") to upgrade a number of ratings of NWG, NatWest Markets Plc ("NWM") and NatWest Markets N.V. ("NWM N.V."), including:
 
- NWG's senior unsecured debt rating to A3 from Baa1, and NWM's senior unsecured debt ratings to A1 from A2. NWM N.V.'s ratings were also upgraded to A1 from A2 as they continue to remain aligned to those of NWM. The outlook on these ratings was changed to stable from positive.
 
      The upgrade of NWG reflects the upgrade of the group's notional Baseline Credit Assessment ("BCA", Moody's opinion of a bank's standalone intrinsic strength) to a3 from baa1. This in turn reflects "the group's improved profitability, as well as lower execution risk of the planned phased withdrawal from the Republic of Ireland and the finalisation of            NWM's restructuring". NWM's standalone BCA and Adjusted BCA were upgraded to baa3 from ba1 and to baa1 from baa2, respectively.
 
 
Moody's summary senior unsecured debt ratings:
 
 
Former
 
New
 
Long Term Rating
 
 
Outlook
 
Short Term Rating
Long Term Rating
Outlook
Short Term Rating
NatWest Group plc
 
Baa1
Positive
P-2
A3
Stable
P-2
NatWest Markets Plc
 
A2
Positive
P-1
A1
Stable
P-1  
NatWest Markets N.V.
 
A2
Positive
P-1
A1
Stable
P-1  
 
 
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 4205
 
 
 
 
Legal Entity Identifier
 
NatWest Group plc
 
2138005O9XJIJN4JPN90 
NatWest Markets Plc
RR3QWICWWIPCS8A4S074
 
NatWest Markets N.V.
X3CZP3CK64YBHON1LE12
 
 
 
 
 
 
 
 
 
 
Date: 23 September 2022
 
 
 
NATWEST GROUP plc (Registrant)
 
 
 
By: /s/ Jan Cargill
 
 
 
Name: Jan Cargill
 
Title: Chief Governance Officer and Company Secretary
 
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