Rating affirmation reflects bank's sound credit fundamentals and successful completion of merger with Surnadal Sparebank.

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

Rating affirmation follows regulatory approval for merger with Surnadal Sparebank and ongoing resilience of the bank's business and operating performance in a challenging operating environemnt

Sound credit fundamentals of SpareBank 1 Nordvest are not expected to materially change following planned merger with Surnadal Sparebank.

Issuer rating of A- reflects the Norwegian savings bank’s solid credit fundamentals.