NLB's credit rating upgraded to investment grade

NLB's credit rating upgraded to investment grade by Standard and Poor's

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.

That now means NLB is rated investment grade by two major rating agencies, Standard & Poor's and Moody's.