Seven 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 seven Norwegian savings banks, in accordance with its revised financial institutions rating methodology. The banks are Aasen Sparebank, Bien Sparebank, JBF Sparebank, Lillesands Sparebank, RørosBanken, Sparebank 68° Nord, and Trøndelag Sparebank. The ratings on these banks are no longer under criteria review.

NCR has reviewed its ratings and outlooks on the ratings on these 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 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 seven 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: 
Christian Yssen, analyst, +4740019900, christian.yssen@nordiccreditrating.com 
Geir Kristiansen, analyst, +4790784593, geir.kristiansen@nordiccreditrating.com 
Ylva Forsberg, analyst, +46768806742, ylva.forsberg@nordiccreditrating.com

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