STOCKHOLM (Standard&Poor's) Dec. 2, 2011--Standard&Poor's Ratings Services today corrected its rating on the junior subordinated debt of Norway-based Eksportfinans ASA (Eksportfinans or "the bank") by lowering such rating to 'BB+' from 'BBB-'. In our rating action on Eksportfinans (BBB+/Watch Neg/A-2) on Nov. 25, 2011, we lowered the junior subordinated debt rating only to 'BBB-' due to an administrative error. According to our revised bank hybrid capital methodology ("Bank Hybrid Capital Methodology And Assumptions," published Nov. 1, 2011), the junior subordinated debt rating should be 'BB+' or at least two rating notches below the bank's stand-alone credit profile (SACP) of 'bbb'. However, we published the rating at two notches below the issuer credit rating (ICR) of 'BBB+'
