Moody's Investors Service ("Moody's") has today changed the outlook to A1 stable from A1 negative on the deposit and senior debt ratings of SpareBank 1 SMN. The rating outlook for SpareBank 1 Boligkreditt, the cover bond company of the SpareBank 1 Alliance banks, was also changed to Aaa stable from Aaa negative. The deposit, senior debt, issuer and subordinated debt ratings, where applicable, of SpareBank 1 SMN were affirmed. Concurrently, the long-term counterparty risk assessment (CR Assessment) and counterparty risk rating (CRR) for SpareBank 1 SMN were downgraded to A1(cr) from Aa3(cr) and to A1 from Aa3 respectively. SpareBank 1 Boligkreditt's long-term CR Assessment and CRR were also downgraded to A2(cr) from A1(cr) and to A2 from A1 respectively. The baseline credit assessment (BCA) of the bank remains unchanged.
Please see enclosed document for further details.
Contact person:
Ola Neråsen, Head of Risk Management, +47 918 09 722
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)