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Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

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:

NatWest Group plc ("NWG") and its subsidiaries note the decision by the credit rating agency Fitch Ratings (Fitch) to upgrade a number of ratings of NWG and its subsidiaries on 25 June, including:

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Raising the long-term Issuer Default Rating on NWG to 'A+' from 'A' and affirming the F1 Short-Term Issuer Default Rating;

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Raising the long-term ratings to 'AA-' from 'A+', and upgrading the short-term ratings to 'F1+' from 'F1' on NatWest Bank plc, Royal Bank of Scotland plc, NatWest Bank Europe GMBH, NatWest Markets Plc, NatWest Markets N.V.;

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Upgrading the long-term ratings of The Royal Bank of Scotland International Limited to 'AA-' from 'A' and upgrading the Short Term rating to 'F1+' from 'F1';

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Upgrading the long-term rating of NatWest Markets Securities Inc. to 'A+' from 'A' and affirmed the short-term rating at 'F1';

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Upgrading all rated debt issuance from NWG and its subsidiaries in line with the above actions.

	Former			New
	Long Term Rating	Outlook	Short Term Rating	Long Term Rating	Outlook	Short Term Rating
NatWest Group plc	A	Positive	F1	A+	Stable	F1
National Westminster Bank plc The Royal Bank of Scotland plc NatWest Bank Europe GMBH NatWest Markets Plc NatWest Markets N.V.	A+	Positive	F1	AA-	Stable	F1+
NatWest Markets Securities Inc	A	Positive	F1	A+	Stable	F1
The Royal Bank of Scotland International Ltd	A	Positive	F1	AA-	Stable	F1+

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.

	Legal Entity Identifier
NatWest Group plc National Westminster Bank plc The Royal Bank of Scotland plc NatWest Bank Europe GMBH NatWest Markets Plc NatWest Markets N.V. NatWest Markets Securities Inc The Royal Bank of Scotland International Ltd	2138005O9XJIJN4JPN90 213800IBT39XQ9C4CP71 549300WHU4EIHRP28H10 894500M8C9DWGV7L2Q81 RR3QWICWWIPCS8A4S074 X3CZP3CK64YBHON1LE12 ZE2ZWJ5BTIQJ8M0C6K34 21380078CCZSEEIIKA41

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		NatWest Group plc (Registrant)


Date:	27 June 2025		By:	/s/ Mark Stevens

			Name:	Mark Stevens
			Title:	Assistant Secretary