Standard & Poor's upgrades DnB NOR Bank to AA-

The rating agency Standard & Poor's has raised its long-term rating of DnB NOR Bank ASA to AA- from A+. The short-term rating has been raised to A-1+ from A-1. The upgrade reflects the bank's sustained profitability, leading market position in Norway, conservative risk profile and controlled expansion outside its home market. Strong emphasis has also been placed on DnB NOR's sound level of capitalisation and competent risk management.