EESTI ÜHISPANK

ANNOUNCEMENT

20.09.99

 

 

S&P ASSIGNED DOUBLE-"B"-pi RATING TO EESTI ÜHISPANK

 

Standard and Poor's assigned on Friday, September 17, a  double-"B"-pi

(public information) rating to Eesti Ühispank.

 

S&P ranks  the economic  and industry  risks of  the Estonian  banking

system on a par  with most of its  convergent country peers -  Poland,

Hungary, and  Slovenia -  but, due  to the  vulnerability to  external

shocks caused by  the openness of  the economy, higher  than its Baltic

neighbors, Lithuania and Latvia.

 

Ühispank  has  not  ordered  the  rating  from  the rating agency. The

rating assigned is based on public information only.

 

Since  1996,  S&P  uses  the  subscript  "pi"  (Public Information) to

identify the  new rating  framework. It  employs analytical procedures

that parallel traditional credit ratings, but differ in that they  are

based on  public disclosure  made available  by companies  as well  as

other secondary sources. Such ratings do not employ the "+" and "-".

 

 

Margus Schults

Vice President

Tel: +372 66 56 600