Moody´s Investors Service (Moody´s) has today upgraded Arion Bank´s long term-issuer rating to A3 from Baa1. Additionally, the long-term and short term deposit rating was upgraded to A2/P-1. The outlook was changed to stable from positive.
The upgrade of Arion Bank´s ratings reflects the bank´s sustained performance in terms of profitability, capitalization and strong asset quality as well as shift towards a bancassuarance business model over the past 18 months.
Moody‘s assessment on Arion Bank‘s Environmental, Social and Governance Risks Methodology has also been raised to G-2 from G-3. This reflects low governance risks following the bank’s improved financial strategy and risk management practices.