- C BFSR ("Bank Financial Strength Rating") with negative outlook affirmed;

- A1 long-term deposit and senior unsecured ratings affirmed, outlook changed to negative;

- A2 subordinate ratings affirmed, outlook changed to negative;

- A3 preferred stock ratings affirmed, outlook changed to negative;

- Prime-1 short-term deposit rating affirmed.

 

With a Tier 1 ratio of 10.13% at the end of Q1 2009 (according to Basel II transitional rules), Moody's believes that the bank remains appropriately capitalised at the current rating level.

 

Moody's confirm that their press release does not deal with possible implications for the Norwegian covered bond ratings.

 

 

Further reference is made to the press release from Moodys

 

 

CFO Rolf Eigil Bygdnes +47 905 19 774