S&P Global Ratings (S&P) has upgraded Arion Bank’s covered bond rating from A- to A with a stable outlook.
The rating action follows S&P’s newly issued assessment of the Icelandic resolution regime as sufficiently effective after the country´s progress in adopting legislation and developing its policy framework.
 
Benedikt Gíslason, CEO: We are delighted that the credit rating of Arion Bank’s covered bonds has been raised to A, which is the same credit rating as the Icelandic government has with S&P. The credit rating of covered bonds reflects Arion Bank’s strength as an issuer, the solid framework of the Icelandic financial system and the quality of the bank’s mortgage loan portfolio.