S&P Global Ratings upgrades Arion Bank´s rating to BBB+ with a stable outlook

According to S&P Global Ratings the economic risk facing Icelandic banks has abated with a stabilizing housing market and significant deleveraging of the private sector.

S&P has improved their assessment of economic risk faced by Icelandic banks and revised the anchor for banks operating in Iceland to bbb from bbb-.

As a result S&P Global Ratings raised the long-term rating on Arion Bank to BBB+, affirmed the A-2 short term issuer credit rating. The outlook is stable.

For any further information please contact:

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Theodór Friðbertsson, Head of Investor Relations at Arion Bank, [e-mail], tel. [phone] or Eirikur Dor Jonsson, Head of Treasury at Arion Bank, [e-mail], tel. [phone]

This information is information that Arion Bank is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-04-04 12:04 GMT.

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RatingsDirect ThreeIcelandicBanksUpgradedOnRecedingEconomicImbalances

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