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

OSLO: 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.

https://www.moodys.com/research/Moodys-upgrades-four-Norwegian-banks-deposit-and-issuer-ratings-and–PR_439268