On 7 October Fitch Ratings issued the following rating action on Straumur-Burdaras Investment Bank hf: Long-term IDR and senior debt: downgraded to 'BB-' from 'BB+' Short-term IDR: affirmed at 'B', revised to Rating Watch Evolving Support rating: changed to '5' from '3' Support rating floor: revised to 'No Floor' Individual rating: downgraded to 'D' from 'C/D' Subordinated debt: downgraded to 'B' from 'BB' For further details on the rating action see the attached announcement from Fitch Ratings. For further information contact: Georg Andersen, Senior Vice President Head of Corporate Communications tel: +354 858 6707 e-mail: georg.andersen@straumur.net Ólafur Teitur Gudnason, Vice President, Media Relations Corporate Communications tel: +354 858 6778 e-mail: olafur.gudnason@straumur.net
Fitch rating action on Straumur (7 Oct)
| Source: Straumur-Burðarás Fjárfestingabanki hf.