Rating actions regarding SpareBank 1 Nord-Norge acquiring of 20 % of Glitnir Bank ASA

 

Fitch Ratings and Moodys Investor service has made a review on SpareBank 1 Nord-Norge ratings after the bank's participation in a consortium comprising 20 SpareBank 1-banks that shall acquire 100 % of the shares in Glitnir Bank ASA.

 

Fitch have affirmed the same long-term rating (A) as previously, as have Moody's (AA3).  Moody's has revised the outlook from stable to negative, while Fitch maintains an unchanged outlook. Moody's cites the risk posed by the integration process with Glitnir Bank as the rationale for its change of stance.

 

CFO Rolf Eigil Bygdnes +47 905 19 774