<SEC-DOCUMENT>0001654954-23-004623.txt : 20230412
<SEC-HEADER>0001654954-23-004623.hdr.sgml : 20230412
<ACCEPTANCE-DATETIME>20230412112249
ACCESSION NUMBER:		0001654954-23-004623
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20230412
FILED AS OF DATE:		20230412
DATE AS OF CHANGE:		20230412

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NatWest Group plc
		CENTRAL INDEX KEY:			0000844150
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMERCIAL BANKS, NEC [6029]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			X0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10306
		FILM NUMBER:		23815023

	BUSINESS ADDRESS:	
		STREET 1:		GOGARBURN
		STREET 2:		PO BOX 1000
		CITY:			EDINBURGH, SCOTLAND
		STATE:			X0
		ZIP:			EH12 1HQ
		BUSINESS PHONE:		441315568555

	MAIL ADDRESS:	
		STREET 1:		GOGARBURN
		STREET 2:		PO BOX 1000
		CITY:			EDINBURGH, SCOTLAND
		STATE:			X0
		ZIP:			EH12 1HQ

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ROYAL BANK OF SCOTLAND GROUP PLC
		DATE OF NAME CHANGE:	19950712
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>a0176w.htm
<DESCRIPTION>NATWEST GROUP PLC NOTES RATING ACTIONS BY S&P
<TEXT>
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FORM 6-K</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
SECURITIES AND EXCHANGE COMMISSION</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Washington D.C. 20549</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Report of Foreign Private Issuer</font></div>
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Pursuant to Rule 13a-16 or 15d-16</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
of the Securities Exchange Act of 1934</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">For
April 12, 2023</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Commission
File Number: 001-10306</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">NatWest
Group plc</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">RBS,
Gogarburn, PO Box 1000</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Edinburgh
EH12 1HQ</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(Address
of principal executive offices)</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;&#xA0;&#xA0;Form
20-F <font style="text-decoration: underline">X</font> Form 40-F
___</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">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):_________</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">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):_________</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">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.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Yes ___
No <font style="text-decoration: underline">X</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">If
"Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-
________</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">
The following information was issued as&#xA0;Company announcements
in London, England and is furnished pursuant to General Instruction
B to the General Instructions to Form
6-K:</font>&#xA0;</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
NatWest Group plc</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
12 April 2023</font></div>
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&#xA0;</font></div>
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&#xA0;</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
NatWest Group plc notes rating actions by S&amp;P</font></div>
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&#xA0;</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
12 April 2023</font></div>
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<font style="color: #333333; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
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<font style="color: #333333; font-family: Times New Roman; font-size: 13px">
NatWest Group plc ("NWG") and its subsidiaries note the decision by
the credit rating agency S&amp;P Global Ratings (S&amp;P) to
upgrade a number of ratings of NWG and its subsidiaries today,
including:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 48px; margin-right: 0px; text-indent: -24px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">&#x25CF;&#xA0; &#xA0; &#xA0; &#xA0;</font>
<font style="color: #000000">Raising the long-term issuer credit
rating on NWG to 'BBB+' from 'BBB';&#xA0;</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 48px; margin-right: 0px; text-indent: -24px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">&#x25CF;&#xA0; &#xA0; &#xA0; &#xA0;</font>
<font style="color: #000000">Raising the long-term ratings to 'A+',
and affirming the 'A-1' short-term ratings on NatWest Bank plc,
Royal Bank of Scotland plc and NatWest Bank Europe
GMBH;</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 48px; margin-right: 0px; text-indent: -24px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">&#x25CF;&#xA0; &#xA0; &#xA0; &#xA0;</font>
<font style="color: #000000">Raising the long- and short-term
ratings on all other operating subsidiaries mentioned in the table
below to 'A/A-1';</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 48px; margin-right: 0px; text-indent: -24px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">&#x25CF;&#xA0; &#xA0; &#xA0; &#xA0;</font>
<font style="color: #000000">Raising the long- and short-term
resolution counterparty ratings (RCRs) on the Group's main
operating subsidiaries to 'AA-/A-1+' and raising the long-term RCRs
on the Group's other operating subsidiaries to 'A+' and affirming
the 'A-1' short-term ratings;</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 48px; margin-right: 0px; text-indent: -24px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">&#x25CF;&#xA0; &#xA0; &#xA0; &#xA0;</font>
<font style="color: #000000">Upgrading all rated debt issuance from
NWG and its subsidiaries in line with the above
actions.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
The outlook remains Stable on all rated entities.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Summary of S&amp;P's senior unsecured debt ratings:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
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<font style="font-weight: bold; color: #333333; font-family: Times New Roman; font-size: 13px">
Former</font></div>
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<font style="font-weight: bold; color: #333333; font-family: Times New Roman; font-size: 13px">
New</font></div>
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<font style="font-weight: bold; color: #333333; font-family: Times New Roman; font-size: 13px">
Long Term
Rating&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
</td>
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<font style="font-weight: bold; color: #333333; font-family: Times New Roman; font-size: 13px">
Outlook</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
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<font style="font-weight: bold; color: #333333; font-family: Times New Roman; font-size: 13px">
Short Term Rating</font></div>
</td>
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<font style="font-weight: bold; color: #3A3838; font-family: Times New Roman; font-size: 13px">
Long Term Rating</font></div>
</td>
<td style="vertical-align: middle; width: 11%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
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<font style="font-weight: bold; color: #3A3838; font-family: Times New Roman; font-size: 13px">
Outlook</font></div>
</td>
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<font style="font-weight: bold; color: #3A3838; font-family: Times New Roman; font-size: 13px">
Short Term Rating</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 29%; border-left: 0.5pt solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-right: 3px solid rgb(0, 0, 0);">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #3A3838; font-family: Times New Roman; font-size: 13px">
NatWest Group plc</font></div>
</td>
<td style="vertical-align: middle; width: 16%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #333333; font-family: Times New Roman; font-size: 13px">
BBB</font></div>
</td>
<td style="vertical-align: middle; width: 11%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #333333; font-family: Times New Roman; font-size: 13px">
Stable</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #333333; font-family: Times New Roman; font-size: 13px">
A-2</font></div>
</td>
<td style="vertical-align: middle; width: 9%; border-left: 3px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
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<font style="color: #333333; font-family: Times New Roman; font-size: 13px">
BBB+</font></div>
</td>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #3A3838; font-family: Times New Roman; font-size: 13px">
Stable</font></div>
</td>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #3A3838; font-family: Times New Roman; font-size: 13px">
A-2</font></div>
</td>
</tr><tr>
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<font style="font-weight: bold; color: #333333; font-family: Times New Roman; font-size: 13px">
National Westminster Bank plc,</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #3A3838; font-family: Times New Roman; font-size: 13px">
Royal Bank of Scotland plc,</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #3A3838; font-family: Times New Roman; font-size: 13px">
NatWest Bank Europe GMBH</font></div>
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A</font></div>
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<td style="vertical-align: middle; width: 11%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
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Stable</font></div>
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<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
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A-1</font></div>
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A+</font></div>
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<td style="vertical-align: middle; width: 11%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
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<font style="color: #333333; font-family: Times New Roman; font-size: 13px">
Stable</font></div>
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<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #333333; font-family: Times New Roman; font-size: 13px">
A-1</font></div>
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NatWest Markets plc,</font></div>
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NatWest Markets N.V.,</font></div>
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<font style="font-weight: bold; color: #3A3838; font-family: Times New Roman; font-size: 13px">
NatWest Markets Securities Inc. The Royal Bank of Scotland
International Ltd,</font></div>
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Ulster Bank Ireland DAC</font></div>
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A-</font></div>
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<td style="vertical-align: middle; width: 11%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
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<font style="color: #333333; font-family: Times New Roman; font-size: 13px">
Stable</font></div>
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<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
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A-2</font></div>
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<td style="vertical-align: middle; width: 9%; border-left: 3px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #3A3838; font-family: Times New Roman; font-size: 13px">
A</font></div>
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Stable</font></div>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #333333; font-family: Times New Roman; font-size: 13px">
A-1</font></div>
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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.</font></div>
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For further information please contact:</font></div>
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NatWest Investor Relations</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Date:&#xA0;12
April 2023</font></div>
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<td style="vertical-align: top; width: 51%">
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<font style="font-family: Times New Roman; font-size: 13px">NATWEST
GROUP plc (Registrant)</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">By: /s/
Jan Cargill</font></div>
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<td style="vertical-align: top; width: 51%">
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<font style="font-family: Times New Roman; font-size: 13px">Name:
Jan Cargill</font></div>
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<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<td style="vertical-align: top; width: 51%">
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<font style="font-family: Times New Roman; font-size: 13px">Title:
Chief Governance Officer and Company Secretary</font></div>
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