Rating actions regarding Sparebank 1 SR-Bank acquiring of 20 % of Glitnir Bank ASA

 

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

 

Fitch has affirmed the same long-term rating (A) as previously, as has 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.

 

Head of Capital Market Stian Helgøy phone + 47 906 52 173