Fitch upgrades NatWest subsidiaries' long-term ratings to AA, citing updated bank rating criteria.

Fitch Ratings has upgraded the long-term issuer default ratings of several NatWest Group subsidiaries, including National Westminster Bank Plc and The Royal Bank of Scotland, from AA- to AA. The upgrade also applies to their long-term senior unsecured debt ratings. This change follows Fitch's revision of its bank rating criteria rather than any new developments at NatWest itself. The outlook remains stable, and the short-term ratings were affirmed at F1+. Higher ratings can reduce funding costs and improve market access for the banks.