Moody’s applies B1 to Absolut Bank debt

Moody's Investors Service said it assigned B1 long-term global scale local currency debt ratings to two senior unsecured debt instruments issued by Absolut Bank.

The ratings carry a negative outlook.

Any subsequent local currency senior unsecured debt issuance by Absolut Bank will be rated at the same rating level subject to there being no material change in the bank's overall credit profile.

The assigned ratings are in line with Absolut Bank's global scale local currency deposit rating, which is, in turn, based on the bank's standalone baseline credit assessment of b1 and does not incorporate any external support uplift, the agency said.

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