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 May
16, 2019
Commission
File Number: 001-10306
The
Royal Bank of Scotland 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:
The Royal Bank of Scotland Group plc
16 May 2019
RBS Group welcomes credit ratings action by S&P
The Royal Bank of Scotland Group plc ("RBSG" and, together with its
subsidiaries, the "Group") welcomes the decision by the credit
rating agency Standard & Poor's (S&P) to upgrade the long
term issuer credit ratings of RBSG and each of the Group entities
listed below by one notch. S&P
also upgraded the short term issuer credit ratings of RBSG and the
UK ring-fenced entities and the issue ratings on all outstanding
debt instruments of RBSG and its subsidiaries.
S&P summary credit ratings are now as follows:
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Long Term rating
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Short Term Rating
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The Royal Bank of Scotland Group plc
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BBB
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A-2
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Entities inside the
Ring-Fence
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National Westminster Bank Plc
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A
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A-1
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The Royal Bank of Scotland plc
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A
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A-1
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Ulster Bank Limited
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A
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A-1
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Ulster Bank Ireland DAC
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A-
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A-2
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Entities Outside the
Ring-Fence
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NatWest Markets Plc
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A-
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A-2
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NatWest Markets N.V.
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A-
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A-2
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NatWest Markets Securities Inc.
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A-
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A-2
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Royal Bank of Scotland International Ltd.
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A-
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A-2
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In a statement, S&P said, "the one-notch upgrade reflects
RBSG's strengthened credit fundamentals following a long period of
restructuring and refocusing. It has addressed the majority of
legacy assets and legal risks, maintained a robust capital
position, and laid the foundations for improved cost efficiency and
earnings." In addition, in their view, "RBSG's strengthened balance
sheet and improving earnings enhance its capacity to manage current
U.K. political and economic uncertainties."
The stable ratings outlook reflects S&P's expectation that the
Group will maintain robust balance sheet metrics and strengthen its
earnings toward management's targets.
For further information please Contact:
Paul Pybus
Head of Debt Investor Relations
+44 (0) 20 7678 1153
RBS Media Relations:
+44 (0) 13 1523 4205
Forward Looking Statements
This document contains forward-looking statements within the
meaning of the United States Private Securities Litigation Reform
Act of 1995, such as statements that include, without limitation,
the words 'expect', 'estimate', 'project', 'anticipate', 'commit',
'believe', 'should', 'intend', 'plan', 'could', 'probability',
'risk', 'Value-at-Risk (VaR)', 'target', 'goal', 'objective',
'may', 'endeavour', 'outlook', 'optimistic', 'prospects' and
similar expressions or variations on these expressions. These
statements concern or may affect future matters, such as RBSG or
NWM's future economic results, business plans and current
strategies. In particular, this document may include
forward-looking statements relating to RBSG or NWM in respect of,
but not limited to their respective: regulatory capital positions
and related requirements, financial positions, profitability and
financial performance (including financial, capital and operational
targets), access to adequate sources of liquidity and funding,
increasing competition from new incumbents and disruptive
technologies, impairment losses and credit exposures under certain
specified scenarios, substantial regulation and oversight, ongoing
legal, regulatory and governmental actions and investigations,
LIBOR, EURIBOR and other benchmark reform and exposure to economic
and political risks (including with respect to Brexit and climate
change), operational risk, conduct risk, cyber and IT risk and
credit rating risk. Forward-looking statements are subject to
a number of risks and uncertainties that might cause actual results
and performance to differ materially from any expected future
results or performance expressed or implied by the forward-looking
statements. Factors that could cause or contribute to differences
in current expectations include, but are not limited to,
legislative, political, fiscal and regulatory developments,
accounting standards, competitive conditions, technological
developments, interest and exchange rate fluctuations and general
economic conditions. These and other factors, risks and
uncertainties that may impact any forward-looking statement or RBSG
or NWM's actual results are discussed in NWM's 2018 Annual Report
and Accounts and other regulatory filings, RBSG's UK 2018 Annual
Report and Accounts and materials filed by RBSG with, or furnished
to, the US Securities and Exchange Commission, including, but not
limited to, RBSG's most recent Annual Report on Form 20-F and
Reports on Form 6-K. The forward-looking statements contained in
this document speak only as of the date of this document and RBSG
and NWM do not assume or undertake any obligation or responsibility
to update any of the forward-looking statements contained in this
document, whether as a result of new information, future events or
otherwise, except to the extent legally required.
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Legal Entity Identifier
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The Royal Bank of Scotland Group plc
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2138005O9XJIJN4JPN90
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The Royal Bank of Scotland plc
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549300WHU4EIHRP28H10
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National Westminster Bank Plc
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213800IBT39XQ9C4CP71
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Ulster Bank Limited
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213800BZ9V4RRA2IRN26
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NatWest Markets Plc
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RR3QWICWWIPCS8A4S074
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NatWest Markets N.V.
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X3CZP3CK64YBHON1LE12
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Royal Bank of Scotland International Ltd.
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21380078CCZSEEIIKA41
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NatWest Markets Securities Inc.
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ZE2ZWJ5BTIQJ8M0C6K34
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Date: 16
May 2019
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THE
ROYAL BANK OF SCOTLAND GROUP plc (Registrant)
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By: /s/
Jan Cargill
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Name:
Jan Cargill
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Title:
Deputy Secretary
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