HANSABANK

ANNOUNCEMENT

24.08.99

 

 

HANSABANK’S LONG-TERM DEPOSIT RATING WAS UPGRADED TO BAA2

 

Today Moody’s Investors Service raised by one notch to Baa2 the 

long-

term deposit rating assigned to Hansabank. Other ratings remained 

unchanged.

Moody’s noted that the rating action on Hansabank’s long-term 

rating 

is based on the increased likelihood that in a stress situation it 

will receive support from Swedbank, who own 49.98% of Hansapank. 

Moody’s additionally noted that the upgrade of Hansabank’s rating 

also 

reflects an improvement in the bank’s intrinsic financial strength, 

which is underscored by a sound funding base and a diversified 

franchise, with significant market positions in the key business 

lines 

in Estonia and the other Baltic states.

 

According to Moody’s in the longer run Hansabank’s ratings could be 

positively influenced by a closer integration between Hansabank and 

Swedbank, as well as by an increase in Swedbank’s holding above 

50%. 

Also upward rating pressure on the deposit ratings may arise if the 

operating environment in Estonia further stabilises and Hansabank’s 

financial position improves.

 

Hansabank’s ratings are the following:

Long term foreign currency deposit rating – Baa2

Short term foreign currency deposit rating – Prime 3

Financial Strength Rating – D+

 

All ratings have a stable outlook.

 

 

 

HANSABANK

 

 

 

Mart Toevere

Analyst

Tel. +372 6131 569