Bank Norwegian ASA – Assigned BBB/N3 long- and short-term ratings from Nordic Credit Rating

14 Nov 2022 18:16 CET

As previously announced, latest on 11 November 2022, Nordax Bank AB (publ)
("Nordax Bank"), rated BBB/N3/Stable from Nordic Credit Rating, and Bank
Norwegian ASA ("Bank Norwegian") 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 Bank as the surviving company and Bank Norwegian as the transferring
company. The merger is expected to be completed on or about 30 November 2022.

Bank Norwegian has obtained a new credit rating covering the interim period up
to the date of completion of the merger. Today, on 14 November 2022, Nordic
Credit Rating assigned a new credit rating on Bank Norwegian with a 'BBB'
long-term rating with stable outlook and N3 short-term rating.



Contact persons:

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

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



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

More information:
Access the news on Oslo Bors NewsWeb site

575701_NCR - Nordax Bank AB publ - Rating Action Report 14112022.pdf