Mariehamn, 2014-10-23 09:00 CEST (GLOBE NEWSWIRE) --
Bank of Åland Plc
Stock exchange release
October 23, 2014, 10.00 am
Standard & Poor’s confirms Bank of Åland’s credit rating
The Standard & Poor’s rating agency has analysed the Finnish banking sector after having lowered Finland’s sovereign credit rating on October 10 from AAA to AA+ with a stable outlook.
Although it foresees weak growth and structural challenges in the Finnish economy − which may lead to more difficult operating conditions for the Finnish banking sector − on October 22 Standard & Poor’s confirmed that its credit rating of the Bank of Åland (Ålandsbanken) for long-term and short-term borrowing is not affected by this, but instead remains unchanged at BBB/A-3 with a negative outlook.
Bank of Åland Plc
For further information, please contact:
Peter Wiklöf, Managing Director and Chief Executive, Bank of Åland Plc, tel +358 40 512 7505