Pohjola Pankki Oyj - Company Announcement

Moody's Places OP-Pohjola Group and Pohjola Bank plc on Review for a Possible Credit Rating Downgrade

Pohjola Bank plc
Company Release
Release category: Company Announcement
11 August 2011 at 8.00 a.m.

Moody's Places OP-Pohjola Group and Pohjola Bank plc on Review for a Possible
Credit Rating Downgrade

Moody's Investor Service has put OP-Pohjola Group, Pohjola Bank plc and Pohjola
Insurance Ltd on review of a credit rating downgrade, relating to the bank
financial strength rating, or BFSR, of OP-Pohjola Group (B-), the long-term debt
ratings of Pohjola Bank plc (Aa2) and the insurance financial strength of
Pohjola Insurance Ltd (A2). Moody's expects any downgrade to OP-Pohjola Group's
BFSR and Pohjola Bank plc's ratings for long-term debt to be one notch at the
most.

Moody's affirmed unchanged Pohjola Bank plc's BFSR, or C-. It also affirmed
unchanged Pohjola Bank plc's Prime-1 short-term debt and deposit ratings.
Moody's does not expect any possible downgrade to affect the Aaa rating for
covered bonds issued by OP Mortgage Bank.

Moody's estimates that OP-Pohjola Group's earnings capacity has weakened from
its pre-financial crisis level in 2008, and has paid attention to the level of
problem loans and industry concentrations. However, Moody's expects the Group's
asset quality to remain strong.

In September 2009, Moody's assigned a negative outlook to OP-Pohjola Group's
BFSR.


Pohjola Bank plc


Carina Geber-Teir
Chief Communications Officer



For further information, please contact:
Vesa Aho, CFO, tel. +358 (0)10 252 2336
Tarja Ollilainen, SVP, Investor Relations, tel. +358 (0)10 252 4494

Media queuries:
Carina Geber-Teir, Chief Communications Officer, tel +358 (0)10 252 8394




Distribution
NASDAQ OMX Helsinki Ltd
London Stock Exchange
SIX Swiss Exchange
Major media
op.fi and pohjola.fi



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