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Published on 1/30/2008 in the Prospect News Emerging Markets Daily.

S&P: Bankas Snoras unaffected

Standard & Poor's said ratings and outlook on Bankas Snoras (BB-/stable/B) remain unchanged following a recent rating action on the republic of Lithuania (A-/negative/A-2).

S&P said ratings already consider increasing credit risks through unsustainably high credit growth in untested sectors, relatively low wealth levels, the increasing risk of an economic hard landing and a highly competitive banking sector.

Ratings are underpinned by its good domestic franchise and strong distribution network, adequate profitability, recurrent revenue base and good balance sheet liquidity, the agency said.


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