DnB NOR given Aaa rating by Moody's

The rating agency Moody's Investors Service has raised the long-term rating of
DnB NOR Bank from Aa3 to Aaa. This reflects the agency's introduction of the
new rating methodology Joint-Default Analysis ("JDA"), which places greater
emphasis on the strength of the Norwegian financial system and DnB NOR's
position in the financial market. Aaa is the highest rating possible. 
 
Group chief executive Rune Bjerke is very pleased with the upgrading and points
out that it demonstrates Moody's full recognition of the tremendous growth in
the Norwegian economy over the past 10-12 years and the parallel strengthening
of the largest Norwegian financial institutions. "An Aaa rating will also
improve the DnB NOR Group's access to capital from a number of sources in
international markets and bring down funding costs," says Bjerke.