Moody's downgrades Norwegian Eksportfinans to Ba1

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Source: Bloomberg
© Scanpix/Reuters
Today Moody's Investors Service announced it downgraded Norwegian export credit institution Eksportfinans from Aa3 to Ba1 also known as junk. The downgrading is imposed after Norwegian government took over the support of country's export industry by granting its loans. Rating agency claimed Eksportfinans's excessive focusing on sole exposures was as an additional reason for downgrading.

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