Moody’s ups Sparebanken Vest to stable

Moody's Investors Service said it changed the outlook for Sparebanken Vest to stable from negative, affirming the bank's ratings, including its A1/P-1 deposit ratings and A1 senior debt rating.

The action reflects the agency’s opinion that the bank's financial performance will remain resilient in the context of Norway's slower economic growth due to low oil prices and reduced petroleum sector investments. It also takes into account the bank's relatively low credit impairments and its strong underlying core earnings in the first-half of 2016.

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