Rating upgrade reflects new seniority ranking in updated creditor hierarchy and is in line with Scope’s bank rating methodology.

Rating affirmation reflects the ongoing resilience of the bank's business and operating performance in a challenging operating environment.

Issuer ratings of A- for both Landkreditt Bank and wholly-owned subsidiary Landkreditt Boligkreditt reflect the Norwegian bank's solid credit fundamentals. AAA covered bond ratings reflect sound credit quality of cover pool and fundamental credit support.