The rating action follows the completion of the merger between Sparebanken Vest and Sparebanken Sør to become Sparebanken Norge. Scope will re-assess the potential positive impact for Brage as a majority owned subsidiary of Sparebanken Norge.

The change in Outlook reflects the expectation of stronger owner support when the company becomes a strategic subsidiary of one of the largest savings banks in Norway.

Rating reflects a focused leasing and car financing business, solid credit fundamentals and the strategic relationship with its owner banks.