Arion Bank hf. - Company Announcement

Reitun changes Arion Bank´s rating outlook to positive

Reitun has issued a new rating for Arion Bank and the Bank´s covered bonds.
Arion Bank´s rating remains unchanged at i.A2 but the outlook has been revised
from stable to positive. The rating for Arion Bank´s covered bonds remains
unchanged and continues to be the highest possible, at i.AAA with stable
outlook. 

The main reasons for the change in outlook are important steps taken by the
government to lift the capital controls such as the settlement of the failed
financial institutions on the basis of stability conditions. Additionally Arion
Bank has successfully taken advantage of positive developments within the
Icelandic economy and established itself as a reliable and well managed bank. 

Reitun also states that the success of the lifting of the capital controls will
affect the future development of Arion Bank´s rating. 

For further information please contact Haraldur Gudni Eidsson of Arion Bank's
Communications division at haraldur.eidsson@arionbanki.is, or tel. +354 444
7108.

Viðhengi:

Arion banki lanshfismat juni 2016.pdf

Arion banki sertrygg skuldabref lanshfismat juni 2016.pdf