trending Market Intelligence /marketintelligence/en/news-insights/trending/Ux3JrF3xpywQDBWRO2nZ_A2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Moody's upgrades Sparebanken Øst

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity


Moody's upgrades Sparebanken Øst

Moody's on Oct. 4 upgraded Sparebanken Øst's long-term deposit and issuer ratings to A2 from A3, with a stable outlook.

The agency also upgraded the bank's short-term deposit rating to P-1 from P-2, its baseline and adjusted baseline credit assessments to "baa1" from "baa2" and its long-term counterparty risk assessment to A1(cr) from A2(cr).

Moody's noted that despite the challenging economic conditions in Norway over the last two years, Sparebanken Øst was able to strengthen its asset quality, increase coverage of problem loans and improve its capitalization.

The upgrade of the long-term deposit and issuer ratings reflect a similar action on the bank's baseline and adjusted baseline credit assessments, according to the agency.