S&P lifts DNB Bank to stable

S&P said it revised the outlook on DNB Bank ASA to stable from negative and affirmed its A+ long-term and A-1 short-term counterparty credit ratings.

The agency also said it affirmed the ratings on the bank's subordinated and junior subordinated instruments at A- and BBB, respectively, and on commercial paper at A-1.

The ratings reflect the continued improvements in the bank's capitalization and efficiency, which have further bolstered its resilience to a possible weakening in economic conditions in Norway and its key markets, S&P said.

The bank's capital and leverage ratios have improved even as Norway and its oil sector continue to face the consequences of low oil prices and reduced shipping and oil-related activity, the agency said.

The bank also has moved past most of its peers in efficiency and digitalization, S&P added.

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