Sparebanken Møre

Capital/Financing Update • Jan 20, 2021

Moody`s upgrades Sparebanken Møre's deposits to A1 (stable outlook); assigns Baa1 rating to senior non-preferred (SNP) bonds

Moody`s upgrades Sparebanken Møre's deposits to A1 (stable outlook); assigns Baa1 rating to senior non-preferred (SNP) bonds

Moody`s Investor Service has today upgraded Sparebanken Møre's deposit and issuer rating to A1 from A2, respectively, both carrying stable outlook.

The upgrade is driven by affirmation of the bank's baa1 Baseline Credit Assessment (BCA) and an update of the rating agency's Loss Given Failure (LGF) to take into account the bank's funding plans, which results in a three notch rating uplift from the BCA.

At the same time, Moody`s has assigned Sparebanken Møre's first issue of subordinated bond debt (SNP) a local currency Baa1 rating.

For a more detailed description, see the press release from Moody`s

https://www.moodys.com/research/Moodys-upgrades-Sparebanken-Mores-deposits-to-A1-assigns-Baa1-rating--PR_439075

Contact: Runar Sandanger +47 95043660