S&P Global Ratings has today affirmed the credit rating of Landsbankinn and revised the outlook from stable to positive. The credit rating of the bank is BBB+/A-2 with positive outlook.
In S&P's announcement it is stated that the positive outlook reflects potential uplift of the credit rating due to increased loss-absorbing capacity if the bank continues its issuance of ALAC-eligible debt beyond S&P's threshold of 4% of risk weighted assets, as calculated in accordance with S&P's methodology.
In the rationale for the decision, S&P highlights that Landsbankinn was the first Icelandic bank to issue senior-non preferred bond and thereby proving sound market access and investor appetite for the issuance.
Further information can be found in S&P's announcement, available on the Bank's website: https://www.landsbankinn.is/en/the-bank/investor-relations/credit-rating
