Moody's may lower Baltic banks

Moody's Investors Service said it placed the ratings of six Baltic banks on review for possible downgrade, adding that the affected issuers are Baltic International Bank (Latvia), BigBank (Estonia), Mortgage and Land Bank of Latvia, Norvik Banka (Latvia), Siauliu Bankas (Lithuania) and Trasta Komercbanka (Latvia).

Moody's also noted that all the ratings of Swedbank AS (Estonia) and the long-term debt and deposit ratings of Parex Bank remain on review for possible downgrade, the review having been initiated on May 11 for Parex Bank.

The review of the banks' ratings will focus on Moody's expectation of credit losses following the deterioration of the Baltic operating environment and its potential impact on the banks' financial fundamentals and overall creditworthiness, the agency said.

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