Moody’s upgrades BankNordik’s long-term deposit and issuer ratings to A1; stable outlook

20.11.2023 08:00:01 CET | BankNordik | Company Announcement

Announcement no. 23/2023

Moody’s Investor Service has today updated the credit ratings of BankNordik. Long-term deposits and issuer ratings are upgraded to A1 from A2.

The updated ratings are as follows:

Long-term deposits and issuer ratings:                            A1 (from A2)

Counterparty Risk ratings:                                              A1/P-1 (affirmed)

Counterparty Risk Assessment:                                      A1(cr)/P-1(cr) (affirmed)

Baseline Credit Assessment and Adjusted BCA:                baa1 (affirmed)

Short-term deposit ratings:                                            P-1 (affirmed)

Further information:

Turið F. Arge, CEO. phone: [phone]

BankNordik has banking activities in Greenland and the Faroe Islands and insurance activities in the Faroe Islands. Founded in the Faroe Islands more than a century ago, the Group has total assets of DKK 12.5bn and 207 employees. The Bank is subject to the supervision of the Danish Financial Supervisory Authority and is listed on Nasdaq Copenhagen.

© Ritzau Denmark, source Ritzau English Regulatory Releases