Romania: Moodys Places Forex Ratings of 3 Romanian Banks on Review

16. Juni 2006, 00:00

Moodys Investors Service placed on review for possible upgrade the Ba2/Not-Prime foreign currency deposit...

Moodys Investors Service placed on review for possible upgrade the Ba2/Not-Prime foreign currency deposit ratings for three Romanian banks, two of them controled by Austrian financial institutions, reporter.gr reported on Friday, June 16.

Those are Banca Comerciala Romana S.A., BRD -Groupe Societe Generale S.A. and Raiffeisen Bank S.A. This rating action follows Moodys recent announcement, placing Romanias foreign currency bank deposit ceilings of Ba2/Not-Prime on review for possible upgrade.

Banca Comerciala Romana S.A, controlled by Erste Group since December 2005 currently has EUR 9.3 billion in assets, while BRD - Groupe Societe Generale S.A. has EUR 5.3 billion and Raiffeisen Bank S.A EUR 3.0 billion.

The banks existing ratings for financial strength remain unaffected by this action. The foreign currency deposit ratings of the abovementioned three Romanian banks benefit from strong systemic and parent support.

"The foreign currency deposit ratings of the three banks are currently constrained by the country ceiling, so if the country ceilings for Romania were to rise, we would expect their deposit ratings to rise with them," Moodys said in a statement.

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