Four Norwegian savings banks' ratings affirmed; removed from criteria review

Nordic Credit Rating (NCR) has affirmed its long-term issuer ratings, short-term issuer ratings, senior unsecured issue ratings, Tier 2 instrument ratings, and Additional Tier 1 instrument ratings for four Norwegian savings banks, in accordance with its revised financial institutions rating methodology. The banks are Haugesund Sparebank, Odal Sparebank, Skudenes & Aakra Sparebank, and Voss Veksel- og Landmansbank. The ratings on these banks are no longer under criteria review.

NCR has reviewed its ratings and outlooks on the ratings on these four banks following the revision of its methodology for assigning ratings to financial institutions (link). We consider that our amendments to the methodology have not had a material impact on our view of the four banks' creditworthiness, and that there have not been significant changes in their overall risk profiles. Consequently, we have affirmed our ratings and maintained the stable outlook on the ratings on all four banks.

For further details and updated rating drivers, see the rating action reports for each bank, which can be found on their respective NCR issuer pages (link).

 

Contacts: 
Ylva Forsberg, analyst, +46768806742, ylva.forsberg@nordiccreditrating.com 
Christian Yssen, analyst, +4740019900, christian.yssen@nordiccreditrating.com 
Geir Kristiansen, analyst, +4790784593, geir.kristiansen@nordiccreditrating.com

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