Fitch Ratings: SpareBank 1 Nord-Norge affirmed at A, outlook changed to Stable from Negative

Fitch Ratings has changed the outlook on the IDR (Issuer Default Rating) of SpareBank 1 Nord-Norge to Stable from Negative. The ratings are affirmed long-term IDR (Issuer Default Rating) at A and short-term F1. 

The rating actions take into account the bank's higher proportion of customer deposits covering loans, lower levels of single-name concentration and strong capitalisation relative to its immediate peers. Some of these factors are partly due to the bank's location in northern Norway where the public sector represents a significant portion of the local economy.

Further reference is made to the enclosed press release from Fitch Ratings

For more information, please contact:
Rolf Eigil Bygdnes, CFO

Mobile +47 905 19774

12 March 2010
Head of communication
Vidar Korsberg Dalsbø