S&P corrects Eksportfinans

Standard & Poor's said it corrected its rating on the junior subordinated debt of Eksportfinans ASA by lowering such rating to BB+ from BBB-.

In the rating action on Eksportfinans on Nov. 25, the agency said it lowered the junior subordinated debt rating only to BBB- due to an administrative error.

According to S&P's revised bank hybrid capital methodology the junior subordinated debt rating should be BB+ or at least two rating notches below the bank's stand-alone credit profile of bbb, the agency said.

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