Moody’s Investor Service has upgraded Sbanken’s rating for long-term deposits to A2 from A3, with the outlook remaining «Positive».
The upgrade is driving by the expectation that the bank will issue additional loss-absorbing instruments, mainly in the form of senior non-preferred (SNP) debt), following the receipt of Minimum Requirement for Own Funds and Eligible Liabilities (MREL) by the Norwegian FSA in December.
Please refer to Moody’s press release for further details:
Jesper M. Hatletveit, Head of IR, Sbanken ASA, +47 959 40 045
Øyvind Telle, Head of Treasury, Sbanken ASA, +47 916 88 704
Henning Nordgulen, CFO, Sbanken ASA, +47 952 65 990
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act