DNB NOR GIVEN AAA RATING BY MOODY`S

The rating agency Moody`s Investors Service has raised the long-term rating of DnB NOR Bank from Aa3 to Aaa. This reflects the agency`s introduction of the new rating methodology Joint- Default Analysis (`JDA`), which places greater emphasis on the strength of the Norwegian financial system and DnB NOR`s position in the financial market. Aaa is the highest rating possible. Group chief executive Rune Bjerke is very pleased with the upgrading and points out that it demonstrates Moody`s full recognition of the tremendous growth in the Norwegian economy over the past 10-12 years and the parallel strengthening of the largest Norwegian financial institutions. `An Aaa rating will also improve the DnB NOR Group`s access to capital from a number of sources in international markets and bring down funding costs,` says Bjerke.

About Us

DNB is Norway's largest financial services group and offers financial products and services, including loans and deposits, mutual funds and asset management, life insurance and pension savings, payment and financing services, real estate broking and services related to the money and capital markets.

Subscribe