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Article: ESTONIA: MOODY'S DOWNGRADES AS HANSAPANK'S BFSR TO C AND LC DEPOSIT RATING TO AA3.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- June 29, 2008
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Moody's Investors Service today downgraded AS Hansapank's bank financial strength rating ("BFSR") to C from C+ and the bank's long-term global local currency deposit rating to Aa3 from Aa2. The BFSR retains a negative outlook, while all deposit ratings now have a stable outlook. The downgrades reflect Hansapank's weakening asset quality and Moody's concerns over the bank's high exposure to real estate sector in the Baltic countries. Hansapank's A1 long-term foreign currency deposit rating, which is constrained by Estonia's A1 foreign currency deposit ceiling, was affirmed with a stable outlook, as were its Prime-1 short-term local and foreign currency ratings. Moody's ...
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