Moody's rates Nova Kreditna notes A3

Moody's Investors Service said it rated at A3 Nova Kreditna banka Maribor's upcoming €50 million floating-rate subordinated notes maturing in 2011.

Moody's said the rating takes into account the bank's position and franchise in the Slovenian market as the second biggest commercial bank, as well as expected government support in case of need.

The rating also reflects Nova Kreditna's intrinsic financial strength, as expressed by the bank's existing C- financial strength rating and A2/prime-1 foreign currency long- and short-term deposit ratings.

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