Moody’s upgraded commercial mortgage backed covered bonds issued by SpareBank 1 Næringskreditt from Aa3 to Aa2 yesterday (Wednesday), citing a strengthening of liquidity and capital support for the issuer.

Norway’s SpareBank 1 alliance has strengthened liquidity and capital support of its commercial mortgage covered bond issuer, SpareBank 1 Næringskreditt, in a move recognised by Moody’s and which the issuer hopes could yield pricing benefits.