Kvika banki hf.: Moody’s confirms Kvika’s issuer- and deposit ratings; outlook stable

Moody’s Investors Service (“Moody’s”) today confirmed Kvika banki hf.’s („Kvika“) long-term and short-term deposit ratings of Baa1/P-2, the long-term issuer ratings of Baa2, and the Baseline Credit Assessment (BCA) and Adjusted BCA of ba1.

Moody’s rating action concludes the review for upgrade initiated on 13 February 2023 in relation to Kvika’s merger discussions with Íslandsbanki hf., confirming Kvika’s ratings at their previous levels.

Moody’s also confirmed Kvika’s long-term and short-term Counterparty Risk Ratings of Baa1/P-2 and the long-term and short-term Counterparty Risk Assessments of Baa1(cr)/P-2(cr). The outlook on the long-term deposit and issuer ratings has been changed to stable from ratings under review for upgrade.

For further information please contact Kvika‘s investor relations at [email protected] or via tel. (+354) 540 3200.

Please note that this notice is a disclosure of inside information per article 17 of regulation (EU) No 596/2014 on market abuse (“MAR”), which is implemented into Icelandic law with the act on measures against market abuse No 60/2021.

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