Moody's affirms credit ratings of scandal hit Danske Bank

Credit rating agency Moody's on Friday affirmed Danske Bank's credit ratings but lowed its outlook on the ratings to negative from stable citing risks related to a money laundering scandal at Denmark's largest lender.

"The negative outlook reflects forward-looking downside risks that may arise from further potential investigations and regulatory penalties, in addition to the process of rebuilding trust with customers, investors, and counterparties," Moody's said.