The rating agency Moody’s Investors Service affirmed AS LHV Pank’s and AS LHV Group’s new raitings, upgrading LHV Pank’s long-term deposit rating from Baa1 to A3 level (with positive outlook) and revising LHV Group’s ratings’ outlooks to positive from stable. This indicates LHV’s strong financial position and capitalization as well as expresses the expectation of further strengthening of solidity.
Moody’s has assigned long-term issuer ratings to AS LHV Group:
- Long-term issuer rating Baa3
- Senior unsecured rating Baa3
- Outlook of the ratings revised to positive
Conjointly Moody’s affirmed the raitings assigned to AS LHV Pank:
- Long- and short-term counterparty risk assessment of A3(cr)/Prime-2(cr)
- Long- and short-term counterparty risk rating of A3/Prime-2
- Long-term bank deposit rating A3
- Short-term bank deposit rating Prime-2
- The long-term deposit rating carries a positive outlook
“The rating agency’s decision to raise LHV Pank’s long-term deposit rating to level A3 and LHV Group’s rating outlook to positive is an expected event. A positive outlook on ratings means that LHV’s risks are well managed. LHV is strongly capitalized and our liquidity level is high, furthermore if these trends continue, rating improvements can be expected in the future. LHV’s financial plan envisages a significant increase in business volumes over the next five years. The improvement of the ratings outlook facilitates the raising of funds from international financial markets and thus improves the availability of funds for LHV’s clients,” Juhan Peet, Head of treasury of LHV Group commented.
Additional information: www.moodys.com
LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs over 1080 people. As at the end of February, LHV’s banking services are being used by 424,000 clients, the pension funds managed by LHV have 121,000 active clients, and LHV Kindlustus protects a total of 164,000 clients. LHV Bank Limited, a subsidiary of the Group, holds a banking licence in the UK and provides banking services to international financial technology companies, as well as loans to small and medium-sized enterprises.
Priit Rum
Communication Manager
Phone: +372 502 0786
Email: priit.rum@lhv.ee
