Sparebanken Øst Faces Potential Moody’s Downgrade

Sparebanken Ost (GB:0G45) has released an update.

Moody’s Ratings is reviewing Sparebanken Øst and its mortgage credit company for a potential downgrade from their A1 rating, while confirming the stability of their Baseline Credit Assessment and Counterparty Risk Assessments. This review follows a reassessment by the Financial Supervisory Authority, which indicated that the bank could meet MREL requirements without needing senior subordinated debt, contrary to earlier expectations. Despite the review, Moody’s anticipates at most a one-notch downgrade.

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