The Nordic Investment Bank (NIB) maintained its lending growth in 2015 and fulfilled its mandate, underlining its position as a relevant funding contributor in the Nordic and Baltic regions and supporting its very strong business profile. It maintained its capital ratios and its extremely strong financial profile through sound core earnings and sustained credit quality in its loan book, supporting our assessment of NIB's stand-alone credit profile (SACP) to 'aaa.' We are affirming our long- and short-term issuer credit ratings on NIB at 'AAA/A-1+'. The stable outlook reflects our expectation that, in the next two years, NIB's solid capital position and robust liquidity will continue to support its extremely strong financial profile, and that the institution will maintain a very
