Bank Norwegian AS: Bank Norwegian outlook revised from “Negative” to “Stable” on earnings resilience in downturn, 'BBB/A-2' ratings affirmed

S&P Global Ratings has today published an update on the rating of Bank Norwegian. S&P Global Ratings revises the outlook from “Negative” to "Stable", while affirming the long-term rating of "BBB" and a short-term rating of "A-2".

S&P Global Ratings highlights that “Bank Norwegian's earnings performance in the first nine months of 2020 demonstrate resilience amid COVID-19 fallout, and its capital and provisions are strong enough to absorb losses even in a more adverse scenario. The stable outlook reflects our view the bank will defend its high risk-adjusted profitability and maintain strong capital buffers through 2022.”

See attached research update from S&P Global Ratings.

Contact persons:

CFO Klara Lise Aasen; phone +47 47635583; kaa@banknorwegian.no

Head of Treasury Mats Benserud; phone +47 95891539; mbe@banknorwegian.no

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

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• RatingsDirect_ResearchUpdateBankNorwegian