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Article: MOODY'S DOWNGRADES RATINGS OF SIX BALTIC BANKS

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Info-Prod Research (Middle East)
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June 28, 2009
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Moody's Investors Service today downgraded the ratings of six Baltic banks. The affected entities are Baltic International Bank (Latvia), BIGBANK (Estonia), Norvik Banka (Latvia), Siauliu Bankas (Lithuania) and Trasta Komercbanka (Latvia), with the BFSR of Mortgage and Land Bank of Latvia (MLBL) also being downgraded, while its long-term foreign currency deposit rating was confirmed. Today's downgrades conclude the review process for the six banks that was initiated on 8 June 2009, although Moody's notes that the long-term debt and deposit ratings of Parex Bank and Swedbank AS remain on review for possible downgrade. These reviews were initiated on 11 May 2009 and 27 April, respectively, ...

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