Moody’s upgrades DNB Bank ASA’s long-term debt rating to Aa2 and changes outlook to negative

Moody’s upgraded today DNB Bank ASA’s long-term debt rating to Aa2 from Aa3. Moody’s also changed the outlook on DNB’s debt and deposit rating to negative from stable.

The upgrade of DNB’s long-term debt rating reflects an increase in loss absorbing liabilities on the balance sheet over the last several quarters. The increase in loss absorbing liabilities benefits the position of senior unsecured debt under Moody’s methodology. Moody’s also changed the outlook on DNB’s debt and deposit rating to negative from stable. The negative outlook reflects Moody’s expectations that Norway’s slowing economic growth will put pressure on earnings and increase losses within the oil-related loan portfolio.
 
For further details and complete overview of all rating changes related to DNB Bank ASA, please see attached press release from Moody’s Investors Service.

Overview of DNB Bank ASA’s long-term senior unsecured ratings:
Moody’s: Aa2, negative outlook
Standard & Poor’s: A+, negative outlook
DBRS: AA (low), stable outlook

Contact persons:
Rune Helland, Head of Investor Relations, phone: +47 23 26 84 00
Thor Tellefsen, Head of Long Term Funding, phone: +47 24 16 91 22
Amra Koluder, SVP Investor Relations, phone: +47 23 26 84 08

This information is subject to the disclosure requirements according to Section 5-12 of the Norwegian Securities Trading Act.

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