Hi Martti
Found the information in Change impact guide, hope this helps
MS SQL Server Database Compatibility Level
Release 14.3 supports database compatibility levels for SQL Server 2012 (119) and SQL Server 2014 (120). A new installation of Release 14.3 on SQL Server 2012 has the correct compatibility level of 110. If you are using SQL Server 2014 for Release 14.3, set the compatibility level to 120 from SQL Server Management Studio or use the following command:
EXEC SP_DBCMPTLEVEL <database>, 120
SQL Server 2005 compatibility level (90) has been removed and is no longer supported.
To identify the compatibility level, use the following query:
SELECT NAME DATABASENAME ,COMPATIBILITY_LEVEL COMPATIBILITYLEVEL FROM SYS.DATABASES
Regards
Suman Pramanik