Last update: 22.07.2024 09:13 (GMT+3)
Hansapank NEWS RELEASE 11/06/2003
FITCH UPGRADES SHORT-TERM RATING
Fitch Ratings (Fitch) has today upgraded Hansabank’s short-term rating
to F1 from F2. At the same time the agency has changed the Support
rating assigned to the bank in July from ‘2’ to ‘1’ and the Outlook on
the Long-term rating to Positive from Stable. The Long-term rating is
affirmed at ‘A-‘ as it is constrained by the sovereign’s Long-term
foreign currency rating of ‘A-‘.
The rating action follows the recent change in Outlook to Positive
from Stable for Estonia’s Long-term foreign currency rating. It also
reflects Fitch’s opinion that there is a very high probability that
Hansapank’s majority shareholder, ForeningsSparbanken (Swedbank, rated
A+) would provide support for its Estonian subsidiary should this ever
be required.
Siim Männik
Corporate Communications and I
+372 613 3712