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Tuesday 23 July, 2019

Landsbankinn hf.

Landsbankinn hf.: S&P affirms Landsbankinn’s credit rating as unchanged, revises outlook from stable to negative

Landsbankinn hf.: S&P affirms Landsbankinn’s credit rating as unchanged, revises outlook from stable to negative

?The international rating agency S&P Global Ratings today affirmed Landsbankinn's long-term and short-term issuer credit rating of BBB+/A-2, but revised its outlook from stable to negative. 

S&P's announcement refers, among other things, to challenges in the economic environment of Icelandic banks, pointing out that an economic slowdown is expected in 2019, together with falling interest rates, continuing high taxation and stiff competition from pension funds. All these factors are expected to negatively affect the Bank’s profitability.

S&P's announcement is available on the Bank's website, www.landsbankinn.com/credit-rating

For further information, please contact:
Hanna K. Thoroddsen, Investor Relations, [email protected]landsbankinn.is
Rúnar Pálmason, Public Relations, [email protected]


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