Rating continues to reflect resilient and sound credit fundamentals.

Rating affirmation reflects ongoing resilience of bank's business and operating performance.

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

Rating affirmation reflects the resilience of the group's business and operating performance throughout the pandemic

Rating upgrade reflects management's consistent execution of its strategy to de-risk and strengthen the bank's franchise. The bank's business and financial profile are expected to remain in line with other similiarly rated Norwegian savings banks.

Issuer ratings of BBB+ for both Sandnes Sparebank and its wholly-owned subsidiary Sandnes Sparebank Boligkreditt reflect the Norwegian savings bank’s solid credit fundamentals.