Moody’s rates Sparebanken Sor note program A1

Moody's Investors Service said it assigned provisional A1 long-term senior unsecured local and foreign currency ratings to the €3 billion medium-term note program of Sparebanken Sor, in line with the bank's A1 long-term deposit and issuer ratings.

Securities issued under the program will constitute direct, unconditional, unsecured and unsubordinated obligations of Sparebanken Sor.

Moody’s said the provisional A1 long-term local and foreign-currency ratings assigned to the senior unsecured new program are aligned with Sparebanken Sor's issuer and deposit ratings, reflecting that the debt securities will be direct, unconditional and unsecured obligations of Sparebanken Sor and will rank equally with all other unsecured and unsubordinated present and future obligations of the bank.

Under the program, Sparebanken Sor may issue notes up to a maximum aggregate amount of €3 billion.

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