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Bulletin: KBN Kommunalbanken Norway Ratings Unaffected By Government Acquistion Of Additional 20% Stake May 09
Standard & Poors, May 2009
Abstract
STOCKHOLM (Standard & Poor's) May 8, 2008--Standard & Poor's Ratings Services said today that its ratings on KBN Kommunalbanken Norway (AAA/Stable/A-1+) are unaffected by an announcement by the Ministry for Local Government and Regional Development on May 7, 2009 that the central government will purchase the remaining 20% in Kommunalbanken that it does not already own from Kommunal Landspensjonskasse (local currency A-/Stable/--). After the sale, the Norwegian government will have 100% ownership, which will be to the benefit of Kommunalbanken in terms of any future requirement of government support. The ratings on Kommunalbanken reflect its integral role in the Norwegian local government sector, very strong asset quality, prudent asset-liability matching, and conservative liquidity policies. They also reflect our opinion that...
Companies mentioned in this report are: KBN Kommunalbanken Norway,Norway (Kingdom of),Kommunal Landspensjonskasse
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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