Blueprint
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
December 14, 2018
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
14 December 2018
RBS welcomes credit ratings action by Fitch Ratings
The Royal Bank of Scotland Group plc ("RBSG" and, together with its
subsidiaries, the "Group") welcomes the decision by the credit
rating agency Fitch Ratings to upgrade the long term ratings of RBS
and each of the Group entities listed below by two notches. The
short term ratings of these entities have also been upgraded to F1
from F2.
Fitch summary credit ratings are now as follows:
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New Long Term rating
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New Short Term Rating
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The Royal Bank of Scotland Group plc
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A
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F1
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Ring-Fenced
Entities
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National Westminster Bank Plc
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A+
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F1
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Ulster Bank Limited
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A+
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F1
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The Royal Bank of Scotland plc
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A+
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F1
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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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F1
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NatWest Markets N.V.
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A
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F1
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NatWest Markets Securities Inc.
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A
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F1
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Royal Bank of Scotland International Ltd.
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A
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F1
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The upgrade of the Group ratings reflects Fitch's view that the
Group's risk profile has improved significantly as it has
progressed with its restructuring and resolved large legacy
matters.
Fitch noted today that, "while the UK political situation and
Brexit status is very fluid, the Outlook is currently Stable
because RBSG's capitalisation, funding and liquidity mean we
believe it is able to withstand a moderate weakening of the
economic environment associated with Brexit. Unless a disruptive
no-deal Brexit occurs or our economic and financial market
expectations otherwise deteriorate materially, RBSG's ratings are
likely to remain at current levels. A heightened likelihood of a
disruptive no deal Brexit would likely trigger an Outlook revision
or Negative Watch."
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 announcement contains forward-looking statements within the
meaning of the United States Private Securities Litigation Reform
Act of 1995, including (but not limited to) those related to RBS
and its subsidiaries' regulatory capital position and requirements,
financial position, future pension funding and contribution
requirements, ongoing litigation and regulatory investigations,
profitability and financial performance (including financial
performance targets), structural reform and the implementation of
the UK ring-fencing regime, the implementation of RBS's
restructuring and transformation programme, impairment losses and
credit exposures under certain specified scenarios, increasing
competition from new incumbents and disruptive technologies and
RBS's exposure to political risks, operational risk, conduct risk,
cyber and IT risk and credit rating risk. In addition,
forward-looking statements may 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 RBS's
future economic results, business plans and current strategies.
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 RBS's actual results
are discussed in RBS's UK 2017 Annual Report and Accounts (ARA) and
other materials filed with, or furnished to, the US Securities and
Exchange Commission. The forward-looking statements contained in
this announcement speak only as of the date of this announcement
and RBS does not assume or undertake any obligation or
responsibility to update any of the forward-looking statements
contained in this announcement, 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: 14
December 2018
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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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