Scope Ratings has updated its rating report on Skagerrak Sparebank, rated A- with Stable Outlook.

State guarantees, strong operational links and high strategic importance underpin the equalisation on Republic of Malta’s ratings. High concentration and rising debt are challenges.

The periodic review has resulted in no rating action.

Government stability, a reinforced commitment to fiscal consolidation, and stronger economic resilience drive the Outlook change. High government debt, weak GDP growth and adverse demographics are challenges.

Sustained fall in public debt ratio, declining external vulnerabilities, alongside robust economic growth, drive the Outlook change. Elevated public debt, moderate growth potential and high external vulnerabilities are challenges.

The rating benefits from the bank’s well established local franchise and continued strong operating performance and comfortable financial viability.

The rating affirmation follows the lapsing of the bid for Sabadell. The ratings incorporate BBVA’s 2025-2027 strategic objectives to maintain a resilient business profile and strong profitability; Capital buffers are set to remain just adequate.

The rating on Landkreditt Boligkreditt’s Norwegian obligasjoner med fortrinnsrett reflects the issuer's A- rating enhanced by six notches from governance and cover pool support. 2 notches provide a buffer against an issuer downgrade.

Sustained deterioration in public finances and a weakening of governance standards drive the downgrade. A wealthy, competitive economy, institutional resilience and the dollar’s reserve currency status anchor the ratings.

Disinflation, fiscal discipline and higher international reserves anchor the ratings. High inflation and lingering external and financial vulnerabilities are the main credit challenges.