Norway-Based Eksportfinans Upgraded To 'BBB-/A-3' On Reduced Structured Funding Risk; Outlook Remains Positive

We now consider that an orderly wind down of Eksportfinans is becoming more likely due to the reduction of risks in its complex structured funding portfolio. We are therefore raising our counterparty credit ratings on Eksportfinans to 'BBB-/A-3' from 'BB+/B'. The positive outlook reflects our view that the likelihood of an orderly wind-up of the entity, or its acquisition by a major owner bank, should continue to increase as the funded loan book reduces. STOCKHOLM (Standard&Poor's) Dec. 5, 2014--Standard&Poor's Ratings Services today raised its long-term counterparty credit rating on Eksportfinans ASA to 'BBB-' from 'BB+' and the short-term rating to 'A-3' from 'B'. The outlook remains positive. We also raised the rating on a subordinated debt

...+ We now consider that an orderly wind down of Eksportfinans is becoming more likely due to the reduction of risks in its complex structured funding portfolio. + We are therefore raising our counterparty credit ratings on Eksportfinans to '###-/A-3' from '##+/B'. + The positive outlook reflects our view that the likelihood of an orderly wind-up of the entity, or its acquisition by a major owner bank, should continue to increase as the funded loan book reduces. STOCKHOLM (Standard & Poor's) Dec. 5, 2014--Standard & Poor's Ratings Services today raised its long-term counterparty credit rating on Eksportfinans ASA to '###-' from '##+' and the short-term rating to 'A-3' from 'B'. The outlook remains positive. We also raised the rating on a subordinated debt instrument to '##' from 'B+'. The upgrade reflects our view of quickly diminishing risks of nonpayment of Eksportfinans' senior creditors. In particular, we now consider that an orderly wind down of Eksportfinans is becoming more likely...

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