Moody's Investors Service has re-confirmed the ratings of Mortgage and Land Bank of Latvia (Mortgage bank) at A3/P-2/D- with negative outlook after Mortgage and Land Bank of Latvia acquired 51% stake in Parex bank. Mortgage Bank's ratings re-confirmation by Moody's show that Mortgage Bank will not be long term shareholder in Parex bank and Parex bank will be as wholly seperate business entity, the acquisition of the 51% stake has no impact for the Mortgage bank's BFSR and long term ratings. As of September 30, 2008, the assets of the State JSC Mortgage bank were 949 mln. LVL and its equity capital together with subordinated liabilities comprised 91 mln. LVL.
Moody's Investors Service has re-confirmed the ratings of Mortgage and Land Bank of Latvia (Mortgage bank) at A3/P-2/D- with negative outlook
| Source: Latvijas Hipoteku un zemes banka