Moody's changes SpareBank 1 SMN view to positive

Moody's Investors Service said it affirmed SpareBank 1 SMN's deposit ratings of A1/P-1, senior unsecured ratings of A1 and junior senior unsecured rating of Baa1.

Furthermore, the rating agency affirmed the Baseline Credit Assessment at baa1 and the adjusted BCA at baa1. The outlook on the long-term deposits and senior unsecured ratings was changed to positive from stable.

“The affirmation and positive outlook reflect SpareBank 1 SMN's improving fundamentals, in particular sound capitalization coupled with strong profitability and improved risk profile as well as decreasing reliance on market funding,” Moody’s said in a news release.

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