Moody's lifts Hansabank

Moody's Investors Service said it upgraded Hansabank's financial strength rating from C to C+, maintaining the positive rating outlook.

According to Moody's, the upgrade reflects Hansabank's strong presence in its pan-Baltic market as well as the group's continued sound financial position, including good asset quality, consistent profitability and access to substantial retail deposit funding.

Hansabank's A1/P-1 debt and deposit ratings reflect the strong likelihood of support from the bank's 100% owner Föreningssparbanken (Aa3/P-1/B).

In upgrading the bank's financial strength rating, Moody's noted that Hansabank has maintained its dominant market position in Estonia as well as a substantial presence in its neighboring markets of Latvia and Lithuania while the rating also incorporates the bank's strong financial fundamentals.

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