HELSINKI, Finland, Dec. 12, 2002 (PRIMEZONE) -- Moody's today upgraded Hansabank's (Other OTC:HNSBF) deposit and debt ratings. The bank's deposit ratings were raised from Baa1/P-2 to A1/P-1. The senior unsecured debt rating was lifted from A2 to A1 and the subordinated debt rating from A3 to A2.
The action follows the positive outlook given to the ratings after an upward revision of the Estonian foreign currency ceiling from Baa1 to A1 in November 2002.
Moody's added that an important consideration in the rating upgradewas the extent and support provided by Hansabank's strategic partner,Swedbank.
Hansapank: Deposit ratings A1/P-1 Financial strength C (positive outlook) Senior unsecured debt A1 Subordinated debt A2