Landsbankinn hf.: Moody’s assigns initial rating to Landsbankinn
Moody’s Ratings has today assigned Landsbankinn an issuer and deposit rating of A2/P-1 with a stable outlook.
The rating is underpinned by the strength of the Bank’s standalone creditworthiness, reflected in its baa2 Baseline Credit Assessment (BCA) and the extremely low loss given failure resulting in a three-notch uplift under the advanced Loss Given Failure (LGF) analysis.
Lilja Björk Einarsdóttir, CEO of Landsbankinn:
“We are very pleased with Landsbankinn’s success and that this is reflected in a strong credit rating from Moody’s Ratings. It is particularly gratifying that Landsbankinn is rated as the strongest of the Icelandic banks in terms of financial strength. The Bank’s operations are sound and stable, its financial position strong and we have at the same time continued to develop our services and strengthen our customer relationships.
In recent years, we have worked systematically to diversify and further optimise the Bank’s capital structure, and that work is now yielding results. An A2 credit rating strengthens Landsbankinn’s position in capital markets and facilitates access to a broader group of investors. Over the longer term, this creates opportunities for more favourable funding and enhances our ability to offer customers attractive and competitive terms.”
Further information can be found in Moody’s announcement, available on the Bank’s website: https://www.landsbankinn.is/en/the-bank/investor-relations/credit-rating
