DNB Bank ASA -- Moody's affirms DNB Bank's A1/C-/P-1 ratings; subordinated debt upgraded to Baa2

London, 12 May 2014 -- Moody's Investors Service has today affirmed the ratings of DNB Bank ASA, with a stable outlook. DNB's strong performance in recent years in terms of profitability, lower loan-loss provisions and a stable problem loan ratio has confirmed Moody's view of the bank as a strong European universal bank in a supportive operating environment, with the strength to withstand challenges in the shipping industry, to which the bank has sizable exposure. Specifically, Moody's has affirmed the bank's A1/P-1 long and short-term debt and deposit ratings, C- bank financial strength rating (BFSR), equivalent to a baseline credit assessment (BCA) of baa1, the (P)Baa3 junior subordinated debt and Ba1(hyb) non-cumulative preferred stock ratings. Moody's upgraded DNB's subordinated debt rating to Baa2 (hyb) from Baa3 (hyb).

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