Seven Norwegian savings banks' ratings affirmed; removed from criteria review
Ratings affirmed in accordance with revised methodology.
NO
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.
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.
Mounting costs continue to weigh on Norwegian municipal finances
Operating margns have declined, particularly among the largest municipalities.
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.
Nordic Credit Rating publishes amended Financial Institutions Rating Methodology
All affected issuers placed under criteria review.
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.
Norwegian real estate faces uncertain operating conditions
Prime yields set to be affected by higher financing costs.
NCR comments: Ratings unchanged following US tariffs on NCR-rated issuers
NCR-rated issuers could face challenges due to macroeconomic uncertainty.