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Baltic Republic BICRAS Revised Downward Due To Worsening Economic Environment Dec 08
Standard & Poors, Dec 2008
Abstract
LONDON (Standard & Poor's) Dec. 4, 2008--Standard & Poor's Ratings Services said today it revised downward its Banking Industry Country Risk Assessment (BICRA) on the Republic of Estonia to Group 6 from Group 5, the Republic of Lithuania to Group 7 from Group 6, and the Republic of Latvia to Group 8 from Group 7. At the same time, we upwardly revised our estimate of the incidence of gross problematic assets (GPAs) in the financial systems of Estonia and Lithuania to 25%-40% from 15%-30% and for Latvia to 35%-50% from 25%-40% under a scenario of a protracted deep economic recession. These actions primarily reflect the worsening economic environment across the Baltic States, the subsequent elevation of credit risks, and the...
Companies mentioned in this report are: Skandinaviska Enskilda Banken AB,Swedbank AB,Bankas Snoras,A/S Latvijas Krajbanka,AB Ukio Bankas
Action: General Comment
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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