Moody's rates OP Corporate Bank notes Baa1

Moody's Investors Service said it assigned a provisional foreign- and local-currency long-term junior senior unsecured medium-term notes rating of Baa1 to OP Corporate Bank plc.

The bank plans to issue non-preferred senior debt, the agency said

Moody's also said it affirmed the bank's Aa3 long-term deposit ratings and senior unsecured ratings, prime-1 commercial-paper and short-term deposit ratings and Baa1 subordinate and Baa3(hyb) preferred stock non-cumulative ratings.

The outlook remains stable.

The ratings reflect the bank's consistently low asset risk, very strong capitalization and stable profitability, Moody's said.

This is balanced against reliance on market funding, although below that of many Nordic peers, the agency said.

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