FITCH affirms Straumur-Burdaras at 'BBB-'; outlook stable

Fitch Ratings has today affirmed Straumur-Burdaras Investment  Bank's
(Straumur) ratings  at  Long-term  Issuer Default  (IDR)  and  senior
unsecured debt 'BBB-', Short-term IDR 'F3', Individual 'C/D', Support
'3', Support  Rating Floor  'BB-' and  subordinated debt  'BB+'.  The
Outlook for the Long-term IDR is Stable.

In its announcement Fitch states that the rating reflects Fitch's
view that, despite the continuous turmoil in wholesale markets and
negative market sentiment toward Icelandic names, Straumur's
liquidity position and manageable funding needs reduce its
vulnerability to negative headline risks.

For details on the rating see the attached announcement from Fitch
Ratings.