CREDIT RATINGS, NON-CREDIT ASSESSMENTS (“ASSESSMENTS”), AND OTHER OPINIONS INCLUDED IN MOODY’S PUBLICATIONS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT.
CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. SEE APPLICABLE MOODY’S RATING SYMBOLS AND DEFINITIONS PUBLICATION FOR INFORMATION ON THE TYPES OF CONTRACTUAL FINANCIAL OBLIGATIONS ADDRESSED BY MOODY’S CREDIT RATINGS.
MOODY’S DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT OR IMPAIRMENT. All rights reserved.ĬREDIT RATINGS ISSUED BY MOODY'S CREDIT RATINGS AFFILIATES ARE THEIR CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND MATERIALS, PRODUCTS, SERVICES AND INFORMATION PUBLISHED BY MOODY’S (COLLECTIVELY, “PUBLICATIONS”) MAY INCLUDE SUCH CURRENT OPINIONS. and/or their licensors and affiliates (collectively, “MOODY’S”). © 2023 Moody’s Corporation, Moody’s Investors Service, Inc., Moody’s Analytics, Inc. AS Sampo Pank is headquartered in Tallinn, Estonia.Īt end-2007, it had total assets of EEK36.3 billion AtĮnd-2007, it had total loans of NOK136 billion (EUR17.1īillion). Headquartered in Copenhagen, Danske Bank A/S had total assets ofĭKK3,349 billion (EUR449 billion) as at end-2007.įokus Bank ASA is headquartered in Trondheim, Norway. Ratings upgraded to Aa1 from Aa2 and will be withdrawn.įokus Bank ASA: Bank financial strength rating upgraded to B fromįokus Bank ASA: Prime-1 local and foreign currency short-termĪS Sampo Pank: A1 foreign currency long-term deposit ratingĪS Sampo Pank: Local currency long-term deposit rating upgradedĪS Sampo Pank: Bank financial strength rating upgraded to B fromĪS Sampo Pank: Prime-1 local and foreign currency short-term The following ratings were upgraded or affirmed and will then be withdrawn:įokus Bank ASA: Local and foreign currency long-term deposit Consequently,īoth entities cease to exist as distinct banking legal entities.Īll their existing activities and obligations will be fully transferredĪnd assumed by Danske Bank, which is rated Aa1/Prime-1/B.īoth entities will continue to use their current trade names. Transform Fokus Bank and Sampo Pank into branches. These rating actions follow the decision by their parent Danske Bank to Rating (constrained by Estonia's A1 foreign currency deposit ceiling)Īnd Prime-1 short-term rating, and will then withdraw Rating to Aa1 from Aa3, affirmed its A1 foreign currency bank deposit Moody's upgraded the financial strength rating of Estonia'sĪS Sampo Pank to B from C- and the local currency bank deposit
Strength ratings of Norway's Fokus Bank ASA to Aa1/Prime-1/Bįrom Aa2/Prime-1/C and will then withdraw them. London, 03 June 2008 - Moody's Investors Service upgraded the bank deposit and financial Rating action follows the banks' conversion into branches of Danske Bank Moody's upgrades and withdraws ratings of AS Sampo Pank and Fokus Bank ASA
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