HELSINKI, Finland, Nov. 14, 2002 (PRIMEZONE) -- Moody's today placed Hansabank's deposit and debt ratings on review for possible upgrade. The action follows the upward revision of the Estonian foreign currency ceiling from Baa1 to A1.
The debt ratings of the bank had pierced the previous Baa1 country ceiling for foreign currency denominated debt reflecting the bank's position as a majority-owned subsidiary of Sweden's Swedbank (rated Aa3/P-1).
Moody's commented that the deposit ratings placed on review had been capped by the existing foreign currency ceiling and that the review would examine the case for any further upward movement in the ratings. Key to Moody's considerations would be the extent and support provided by Hansabank's strategic partner, Swedbank.
Hansapank: Deposit ratings Baa1/P-2 Financial strength C (positive outlook) Senior unsecured debt A2 Subordinated debt A3