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Moody's assigns long-term issuer ratings to Norway's SpareBank 1

Moody's on Sept. 4 assigned SpareBank 1 BV A2 foreign- and local-currency long-term issuer ratings, with a stable outlook.

The agency said the issuer ratings reflect the Norwegian lender's robust asset quality, sound capital levels and resilient profitability despite intense competition in the mortgage business, balanced against a high reliance on confidence-sensitive market funding.

The stable outlook reflects Moody's expectation that the bank will be able to offset expected margin pressure with improving efficiency and maintain a solid capital base and sound asset quality over the next 12 to 18 months.