News
S&P changes Glitnir Bank’s long-term credit rating
Standard & Poor's Ratings Services announced today that it has lowered its long-term counterparty credit ratings on Glitnir Bank to BBB+ from A- with a negative outlook. At the same time the A-2 short term counterparty credit rating was affirmed. Glitnir is the only bank in Iceland rated by S&P.
"This result reflects the current turbulence in the global financial markets as well as the current uncertainty regarding the development of the Icelandic economy", says Ingvar Ragnarsson, Managing Director of Treasury at Glitnir. "Due to the continuing volatility in the financial markets, rating agencies have been reassessing their ratings for a number of banks around the world. Glitnir's banking operations and liquidity position will continue to be resilient".
Download the press release from S&P.
Glitnir Bank will publish the results of first quarter 2008 on 7 May.
For further information, please contact:
Ingvar Ragnarsson, Managing Director, Treasury, tel. +354 440 4665,
mobile +354 844 4665 and e-mail: ingvar.ragnarsson@glitnir.is.
Vala Pálsdóttir, Head of Investor Relations, tel. +354 440 4989,
mobile +354-844 4989, e-mail: vala.palsdottir@glitnir.is.
Bjørn Richard Johansen, Managing Director, Corporate Communication,
mobile +47-47 800 100, e-mail: brj@glitnir.no.
