NPRO: Moody's assigns rating Baa2 with Stable Outlook

Norwegian Property ASA ("NPRO") has received an issuer rating of Baa2 with Stable Outlook from Moody's Ratings. Moody's expects to assign a Baa1 senior secured debt rating to secured issuance with LTV not exceeding 65%. The outlook is stable.

The rating reflects Norwegian Property's high-quality office portfolio, strong market position in the Oslo office market, solid operating performance track record and good rental growth, as well as strong and supportive owners. The stable outlook reflects Moody's expectation that the Company will maintain credit metrics consistent with the assigned rating over time.

"We are very pleased to receive a Baa2 rating with a Stable Outlook from Moody's. The rating reflects the quality of our portfolio, our sound financial policy and the continued strength of our operating platform. We believe the rating will support our ongoing funding efforts and provide increased financial flexibility going forward," says Haavard Rønning, Interim CEO and CFO of Norwegian Property ASA.

For additional information regarding the rating, reference is made to Moody's rating report.

For further information, please contact:

Haavard Rønning, Interim CEO and CFO
Tel: +(47) 400 20 019
E-mail: hr@npro.no