Moody's confirms ratings for Merita Bank and Nordbanken

Moody's confirms ratings for Merita Bank and Nordbanken Moody's Investors Service yesterday confirmed the following deposit, debt and financial strength ratings: A1/P-1/C with positive outlook for Merita Bank and A1/P-1/C+ for Nordbanken. Related to MeritaNordbanken Group's bid for Christiania Bank og Kreditkasse, Moody's also changed to positive from stable the outlook for Christiania's A2 long-term rating and C financial strength rating. Moody's commented, among other things, that the proposed acquisition could in the longer term lead to higher revenues from cross-selling various financial products in a wider market. Strategically, it would create a Nordic financial powerhouse and a banking group of a strength comparable to other larger European banks. Moody's cautioned, however, that the planned acquisition would create substantial pressure for the resulting group to restore stronger capitalization. Moody's further noted that the transaction fits with MeritaNordbanken's strategy of building a major cross-border position in Northern Europe. Further information: Fanny Borgström, First Vice President, tel. (+358 9) 369 50500 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/09/22/19990922BIT00370/bit0001.pdf http://www.bit.se/bitonline/1999/09/22/19990922BIT00370/bit0002.doc