Three Swedish niche banks' ratings affirmed; removed from criteria review
Ratings affirmed in accordance with revised methodology.
ALL
Sparebank 1 Lom og Skjåk
SB1 Lom og Skjåk was founded in 1873. The bank's core region covers five municipalities in the northwestern part of Norway's Innlandet county. The bank is headquartered in Lom municipality and has five branch offices, including a branch in Oslo. It has 74 employees and total lending of NOK 11bn, including loans transferred to SB1 Alliance covered bond company SB1 Boligkreditt AS.
Five Swedish savings banks' ratings affirmed; removed from criteria review
Ratings affirmed in accordance with revised methodology.
Four Norwegian savings banks' ratings affirmed; removed from criteria review
Ratings affirmed in accordance with revised methodology.
Spareskillingsbanken
Spareskillingsbanken, established in 1877, is a mid-sized savings bank headquartered in Kristiansand, Norway. It primarily serves retail customers and SMEs in the Kristiansand region. Spareskillingsbanken operates as an independent self-owned savings bank and offers several financial services to household and corporate borrowers. These services include savings accounts, loans, mortgages, insurance, leasing and investment services. Spareskillingsbanken is a member of Lokalbanksamarbeidet banking cooperative, which consists of small and medium-sized local savings banks.
Vegamot AS
Vegamot was established as a local toll company in 1983 and became a regional operator through Norway's toll reform in 2015. Vegamot has responsibility for the counties of Trøndelag and Møre og Romsdal. Trøndelag owns 67% of Vegamot's capital and Møre og Romsdal 33%. Vegamot's mission is to provide efficient financing for toll projects on behalf of its owners through borrowing and collection of tolls. The county governments act as guarantors for loans.
Intea Fastigheter AB (publ) 'BBB' rating unchanged following equity issue.
We expect unchanged impact on the company's long-term financial leverage and strategy.
Nordic Credit Rating publishes amended Financial Institutions Rating Methodology
All affected issuers placed under criteria review.
PostNord AB
PostNord was founded in 2009 through a merger of the Swedish and Danish national government postal companies, Posten AB and Post Danmark A/S. The company offers parcel, logistics and postal and related services across the Nordic region. Its network includes international operations (PostNord International) that focus on e-commerce and logistics, while subsidiary Strålfors provides omni-channel communication services. PostNord is owned by the Swedish and Danish governments, which each hold 50% of the voting rights.
Ringerike Kommune
Ringerike was established in 1964 and is part of Buskerud county. Located in Norway's Eastern region, the municipality is a one-hour drive from Oslo. It has a population of around 32,000 and occupies an area of 1,500 sq km. Most residents live in Ringerike's centre, Hønefoss.