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Moody´s upgrades Arion Bank´s rating to A3 with a stable outlook
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Beskrivning
| Land | Island |
|---|---|
| Lista | Large Cap Stockholm |
| Sektor | Finans |
| Industri | Bank |
2023-09-14 15:08:00
Moody´s Investors Service (Moody´s) has today upgraded Arion Bank´s long term-issuer rating to A3 from Baa1. Additionally, the long-term and short term deposit rating was upgraded to A2/P-1. The outlook was changed to stable from positive.
The upgrade of Arion Bank´s ratings reflects the bank´s sustained performance in terms of profitability, capitalization and strong asset quality as well as shift towards a bancassuarance business model over the past 18 months.
Moody‘s assessment on Arion Bank‘s Environmental, Social and Governance Risks Methodology has also been raised to G-2 from G-3. This reflects low governance risks following the bank’s improved financial strategy and risk management practices.