AndhraNews.net
Home » Business News » 2013 » March » March 5, 2013

SpareBank 1 SMN: Moody's confirmed the A2 long-term senior debt rating and changed the outlook from negative to stable


March 5, 2013 - London

Moody's confirmed the A2 long-term senior debt and deposit ratings and Prime-1 short-term ratings of SpareBank 1 SMN. The outlook on the bank's ratings is now stable.

- long-term senior debt and deposit ratings: confirmed at A2
- subordinated debt ratings: confirmed at Baa3(hyb)
- junior subordinated debt ratings: confirmed at Baa3(hyb)
- Tier 1 hybrid ratings: confirmed at Ba1(hyb)
- short-term ratings: confirmed at P-1

The C- standalone BFSR (stable outlook), equivalent to a baa2 BCA, is not affected.
All ratings now carry a stable outlook.

Contact persons at SpareBank 1 SMN:

Executive Director, Finance, Kjell Fordal on (47) 905 41 672

About SpareBank 1 SMN
SpareBank 1 SMN is the region's leading financial services group. It leads the retail and corporate market, and is positioned in 43 localities across the region's municipalities with a total of 51 offices.
We aim to be the recommended bank for customers in Trøndelag and in Møre and Romsdal. Being a local, independent savings bank we feel a special responsibility for stimulating growth and prosperity in the region. We base our business on closeness to our customers, good accessibility, a full product range and comprehensive financial advisory services. 
Our head office is in Trondheim. The Group employs about 1,200 staff and includes the following subsidiaries: SpareBank 1 SMN Finans, EiendomsMegler 1 Midt-Norge, Allegro Finans and SpareBank 1 SMN Regnskap. It is the largest shareholder in BN Bank with a 33% stake. 
SpareBank 1 SMN is one of six owners of SpareBank 1 Gruppen. For further information, visit our website at www.smn.no.

 

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

Attachment



This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: SpareBank 1 SMN via Thomson Reuters ONE

HUG#1682988

GlobeNewswire

Comment on this story

Share