Moody's: Siauliu Bankas ratings change

Moody's Investor Service said that as part of the planned application of its joint default analysis methodology and its updated bank financial strength rating methodology, some ratings changed for banks in Lithuania.

The new methodology identifies four potential sources of external support for banks including parental support, support from a cooperative or mutualist group, support from a regional or local government and systemic support.

Given the large number of issuers potentially affected, the agency said the methodologies are being implemented country by country. For those banks with a parent bank located in another country where the methodologies have not yet been implemented, Moody's has only concluded on the bank subsidiary's own bank financial strength rating. Because these banks may potentially benefit from support from the parent bank, there may be changes to the deposit and debt ratings, the agency said.

The list of the banks whose ratings have been changed include Siauliu Bankas AB and AB Ukio Bankas. AB Bankas Snoras ratings have been affirmed.

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