Moody's Ratings upgrades SpareBank 1 Helgeland's long-term deposit ratings; changes outlook to stable
Moody's Ratings (Moody's) has today upgraded SpareBank 1 Helgeland's long-term deposit and issuer ratings to A2 from A3. At the same time, we upgraded the Baseline Credit Assessment (BCA) and Adjusted BCA to baa1 from baa2, its short-term deposit ratings to P-1 from P-2, and its long-term Counterpar...Helgeland Sparebank (the Bank) is a Norway-based regional bank active in the Norwegian region of Helgeland. It offers its services mainly to the private market, business and the public sector. Its offering includes such products and services, as payment services, credit cards, saving accounts, placement services, loans, insurance, shares and currencies, as well as an online banking facility, the Nettbank. Additionally, the Bank carries out leasing of property through ANS Bankbygg Mo, AS Sparebankbygg, Helgeland Sparebank Eiendomsselskap AS and Helgeland Utviklingsselskap AS, all of which are wholly owned subsidiaries of the Bank. It also offers housing mortgages through Helgeland Boligkreditt AS, its whole owned subsidiary. As of December 31, 2011, the Bank also had such associated companies, as Helgeland Invest AS, Eiendomsmegleren Helgeland AS and Storgt. The Bank operates through 16 offices in 14 municipalities in Helgeland.
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