Moody's Ratings ("Moody's") today confirmed Kvika banki hf.'s („Kvika") long-term and short-term deposit ratings of Baa1/P-2, the long-term issuer ratings of Baa2, and the Baseline Credit Assessment (BCA) and Adjusted BCA of ba1.
The (P)Baa2 senior unsecured Euro Medium Term Notes (EMTN) program ratings, and (P)Ba1 junior senior unsecured EMTN program ratings were also affirmed. Finally, the subordinated EMTN program ratings were upgraded to (P)Ba1 from (P)Ba2.
Moody's outlook on Kvika's rating remains stable. Previously, the ratings were on review for upgrade due to merger discussions with Arion banki hf.
For further information please contact Kvika's investor relations at ir@kvika.is or via telephone (+354) 540-3200.
Please note that this notice is a disclosure of inside information per article 7 of regulation (EU) No 596/2014 on market abuse ("MAR"), which is implemented into Icelandic law with the act on measures against market abuse No 60/2021.
