CORRECTION: Moody's Investor Service has concluded the Review on the Ratings of SpareBank 1 Nord-Norge.
Moody's Investor Service has concluded the Review on the Ratings of SpareBank 1 Nord-Norge. Moodys's confirm the bank's A1 long term debt and deposit rating. The standalone bank financial strength rating of SpareBank 1 Nord-Norge was downgraded to C- (equivalent to a Baa1 standalone credit assessment) from C/a3. The bank's financial strength rating now carries a stable outlook. The subordinated and junior subordinated debt ratings of SpareBank 1 Nord-Norge were both downgraded to Baa2(hyb) from A2 and Baa1, respectively. The Tier 1 hybrid ratings were confirmed.
At the same time, Moody's placed the long-term senior debt and deposit, subordinated, junior subordinated debt and Tier 1 hybrid ratings of SpareBank 1 Nord-Norge under review for downgrade.
For further information, reference is made to the full press release from Moody's.
Contact person at SpareBank 1 Nord-Norge:
CFO Rolf Eigil Bygdnes +47 905 19 774
Head of Treasury Ronny Løvberg Sørensen +47 971 05 220
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: SpareBank 1 Nord-Norge via Thomson Reuters ONE