Moody's changes rating outlook to negative on SpareBank 1 Nord-Norge following proposed BRRD legislation; ratings affirmed
Moody’s Investors Service (“Moody’s”) has today changed the outlook to negative from stable on the deposit and senior debt ratings of SpareBank 1 Nord-Norge. The deposit, senior debt and issuer rating of the bank were affirmed at their current rating levels reflecting the broadly unchanged standalone creditworthiness and liability structure of SpareBank 1 Nord-Norge. The negative outlook was triggered by the proposed legislation tabled at the Norwegian parliament on 21 June 2017 by the Ministry of Finance, to implement the EU’s bank resolution and recovery directive (BRRD) and the