Sbanken ASA: Moody’s upgrades Sbanken ASA’s deposit rating to A2

Moody’s Investor Service has upgraded Sbanken’s rating for long-term deposits to A2 from A3, with the outlook remaining «Positive».

The upgrade is driving by the expectation that the bank will issue additional loss-absorbing instruments, mainly in the form of senior non-preferred (SNP) debt), following the receipt of Minimum Requirement for Own Funds and Eligible Liabilities (MREL) by the Norwegian FSA in December.

Please refer to Moody’s press release for further details:

Contact details:

Jesper M. Hatletveit, Head of IR, Sbanken ASA,

Øyvind Telle, Head of Treasury, Sbanken ASA,

Henning Nordgulen, CFO, Sbanken ASA,

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act