Bank Norwegian ASA BBB-/A-3 S&P Global Ratings Withdrawn At The Issuer's Request

11 Nov 2022 10:20 CET

At Bank Norwegian ASA's request, S&P Global Ratings has withdrawn its BBB-/A-3
long- and short-term issuer credit ratings of Bank Norwegian ASA. The outlook
was stable at the time of the withdrawal.

Please find the latest rating updates at
https://www.banknorwegian.no/omoss/investorrelations/ratings/.

As previously announced, latest on 1 November 2022, Nordax Bank AB (publ) and
Bank Norwegian ASA are in the process of implementing an intragroup merger
between the companies. All necessary regulatory approvals to complete the merger
have been obtained. The merger will be implemented with Nordax as the surviving
company and Bank Norwegian as the transferring company. The merger will be
executed as soon as possible, on 30 November 2022 at the earliest, and during Q1
2023 at the latest.

Nordax Bank AB (publ) has BBB/N3 long- and short-term issuer ratings from Nordic
Credit Rating, with a stable outlook. The combined company will be the largest
independent specialist consumer finance lender in the Nordics. It will have the
necessary scale and resources to be a leading force in shaping the future of
consumer finance, offering innovative solutions that will challenge the large
incumbent banks for the benefit of customers.


Contact persons:

CEO, Klara-Lise Aasen; phone +47 47 63 55 83; kaa@banknorwegian.no
(mailto:kaa@banknorwegian.no)

CFO, Mats Benserud; phone +47 95 89 15 39; mbe@banknorwegian.no
(mailto:mbe@banknorwegian.no)


This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act

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