SpareBank 1 SR-Bank's rating unchanged following Glitnir Bank ASA takeover

Rating actions regarding Sparebank 1 SR-Bank acquiring of 20 % of Glitnir Bank ASA
Fitch Ratings and Moodys Investor service has made a review on SpareBank 1 SR-Bank ratings after the bank participated in a bank consortium comprising 20  SpareBank 1-banks that shall acquire 100% of the shares in Glitnir Bank ASA.
Fitch has affirmed the same long-term rating (A) as previously, as has Moody's (AA3).  Moody's has revised the outlook from stable to negative, while Fitch maintains an unchanged outlook. Moody's cites the risk posed by the integration process with Glitnir Bank as the rationale for its change of stance.
Contact person at SpareBank 1 SR-Bank:
Head of Capital Market Stian Helgøy phone + 47 906 52 173

About Us

SpareBank 1 SR-Bank is Norway’s second largest savings bank and operates in the Rogaland, Agder and Hordaland markets. We provide financial products and services, including loans and deposits, mutual funds and asset management, insurance and pension savings, payment and financing services, real estate brokerage and services related to the money and capital market. The head office is in Stavanger.