The first thing you need to do is choose a news reader, if you already don't have one. This is a piece of software that checks feeds you have requested and lets you read any new articles that have been added. There are various types of news reader. You should choose one that will work with your computer’s operating system.
When you have chosen a news reader, you can decide what content you want to keep up to date with. Please choose from below:
|Albania||Bosnia and Herzegovina||Bulgaria||Croatia|
|INTERVIEWS BY BALKANS.COM|
Alternatively, you can paste one of the BBN RSS URLs into a new feed in your news reader.
|E-mail article||Save||Additional News in English||Još vesti na Srpskom||Επιπλέον ειδήσεις στα Ελληνικά||Text|
Moody's Investors Service has downgraded the long-term foreign-currency issuer rating of the Croatian Bank for Reconstruction and Development (known as Hrvatska banka za obnovu i razvitak or HBOR) to Ba1, from Baa3. Similarly, Moody's downgraded the provisional (P) rating on HBOR's backed senior unsecured medium-term note programme to (P)Ba1 from (P)Baa3. All ratings of HBOR, which is a government-owned development bank, now carry a stable outlook.
Today's rating actions were prompted by the weakening of the Croatian government's credit profile, as captured by Moody's recent downgrade of Croatia's government bond rating to Ba1 (stable), from Baa3 (negative), on 1 February 2013. For further information refer to the sovereign press release http://www.moodys.com/research/Moodys-downgrades-Croatias-government-bond-rating-to-Ba1-from-Baa3--PR_265054
HBOR's standalone financial strength, as measured by its standalone credit assessment of ba2, remains unaffected and was not a driver of today's rating action.
The action on the issuer and debt ratings of HBOR reflects the reduced ability of the government to provide support to HBOR, as indicated by the downgrade of Croatia's sovereign ratings to Ba1, from Baa3.
HBOR's Ba1 issuer and debt ratings continue to incorporate Moody's assumption of a very high probability of support from the government, leading to uplift from HBOR's standalone credit assessment to the level of Croatia's local-currency bond rating. Moody's considers that the Croatian government remains committed to supporting HBOR in case of need, taking into account: (1) HBOR's development mandate and strategic importance in terms of policy implementation; (2) its full government ownership with no intention to privatise; and (3) the fact that the bank's obligations benefit from an explicit, irrevocable state guarantee.
Moody's says that the stable outlook assigned to HBOR's issuer and bond ratings reflects the corresponding stable outlook assigned to Croatia's local-currency sovereign bond rating.
WHAT COULD MOVE THE RATINGS UP/DOWN
As HBOR's obligations benefit from an explicit, irrevocable state guarantee, its issuer and senior unsecured debt ratings would move up or down in tandem with any upgrade or downgrade of Croatia's local-currency bond rating. Further deterioration in domestic credit conditions or a significant build-up of asset-quality pressures could exert downwards pressure on the bank's standalone credit assessment.
Headquartered in Zagreb, Croatia, Croatian Bank for Reconstruction and Development had total assets of HRH25.1 billion ($4.4 billion), under unaudited IFRS, as at September 2012.
The methodologies used in this rating were Moody's Consolidated Global Bank Rating Methodology published in June 2012, and Government-Related Issuers: Methodology Update published in July 2010. Please see the Credit Policy page on http://www.moodys.com for a copy of these methodologies.
Related News in English
Povezane vesti na srpskom
Συναφείς Ειδήσεις στα Ελληνικά