Nordic Credit Rating proposes revisions to Corporate Rating Methodology
Interested parties invited to comment by 7 Nov. 2025.
NO
SME lending gains momentum among Nordic niche banks
Earnings climb as efficiency and asset quality improves.
Agder Sparebank
Agder Sparebank is a mid-sized Norwegian savings bank headquartered in Arendal, southern Norway, with a history dating to the late 19th century. The bank has been formed through a series of mergers in the past decade, most recently with Birkenes Sparebank. The bank serves retail customers and SMEs in southeastern Agder county.
Webinar: 30 minutes on Nordic niche banks – Q2 2026
Join our webinar for a discussion on the first half of 2026 and expectations ahead.
Strømmen Sparebank
Strømmen Sparebank is a small Norwegian savings bank, established in 1921 and headquartered in Strømmen. The bank serves retail customers and SMEs in the Romerike area and Greater Oslo. Strømmen Sparebank is a member of the Eika Alliance, an association of small and medium-sized Norwegian savings banks.
Kongsberg Maritime ASA
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NCR Comments: OBOS BBL 'BBB-' rating and outlook unchanged despite weak 2025 revenues
EBITDA and credit metrics supported by bank and JV payouts, offsetting weak residential development.
Andøya Space AS
Andøya Space is Norway’s national space infrastructure operator, providing orbital and sub-orbital launch services, defence testing, and aerospace research. With 60 years of launch experience and over 25 years supporting the defence sector, it operates four divisions: Spaceport, Space Defence, Sub Orbital and Education. The company is 90% state owned and 10% owned by Kongsberg Defence & Aerospace, and state ownership is classified as a 'Category 2' holding, reflecting its role in civil protection and emergency preparedness.
NCR comments: NorgesGruppen 'A-' rating and negative outlook unchanged following acquisition of NMD
The acquisition marks NorgesGruppen's entrance into the pharmacy industry.
Fiscal stability across Norwegian municipalities faces uneven pressures in 2026
State transfers aid operating balances, but structural issues persist.