Fitch upgrades SpareBank 1 SMN

Fitch Ratings said it upgraded SpareBank 1 SMN's long-term issuer default rating to A from A- with a stable outlook.

“The upgrade reflects the bank's strong execution of its low-risk strategy, generating solid financial metrics through the cycle. The heightened risks in SMN's moderate (albeit shrinking) volatile oil-related exposure are cushioned by the bank's robust and stable pre-impairment operating profits and capital buffers,” Fitch said in a press release.

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