Moody's rates LHV Bank Baa1

Moody's Investors Service said it assigned first-time foreign- and local-currency long- and short-term deposit ratings to AS LHV Pank (LHV Bank) of Baa1/prime-2.

A baseline credit assessment of Baa3 also was assigned.

The agency also assigned counterparty risk ratings of A3/prime-2 and a counterparty risk assessment of A3(cr)/prime-2(cr).

The outlook is stable.

The ratings reflect the combination of supportive operating conditions prevailing in Estonia and the strong standalone credit characteristics of LHV Bank, Moody's said.

The agency said it expects the bank will maintain a steady performance and credit profile over the next 12- to 18-months.

AS LHV Pank is the fourth largest bank in Estonia and the core operation of the AS LHV Group, Moody's added.

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