We continue to consider that Nordic Investment Bank (NIB) enjoys a robust likelihood of extraordinary shareholder support from the bank's 'AAA' rated member countries. NIB's 'aa+' stand-alone credit profile reflects our assessment of its very strong business and financial profiles, and we add one notch to reflect the €5.4 billion in callable capital from its 'AAA' rated shareholders. We are affirming our long- and short-term ratings on NIB at 'AAA/A-1+'. The stable outlook reflects our expectation that the bank will continue its public policy role as a multilateral lending institution with extensive support provided by its owners. On May 12, 2014, Standard&Poor's Ratings Services affirmed its long- and short-term counterparty credit ratings on Finland-based multilateral lending institution (MLI)
