S&P upgraded NLB’s credit rating to investment grade

17 May 2019

Rating agency Standard and Poor’s raised NLB’s credit rating by one notch to BBB- from BB+ (outlook stable), a move that takes it to the investment grade territory.

Justifying the move, S&P said that industry risks in Slovenia's banking system have decreased because of the state's reduced ownership of banks, and stronger banking supervision. In addition, the agency pointed out that NLB's financial profile remained sound and the key performance indicators in 2018 were largely in line with their expectations, while asset quality metrics improved faster than expected.

“The second upgrade of a major rating agency to investment grade (BBB-, Baa2) is another milestone in our strategic effort to position NLB as the main regional bank in our countries of operation. This is confirmation of our substantial progress on both very solid business performance and return to normality on asset quality and NPL levels. We are very proud of this independent international recognition of NLBs franchise and conscious of our responsibilities as systemically relevant bank," said Archibald Kremser, Member of the Management Board and CFO. 

NLB Communications