Moody's upgraded Ceska sporitelna's (98%-owned by Erste Bank) financial strength rating to C- from D+ with a stable outlook; its LT and ST deposit ratings remained unchanged at A2/Prime-1. The upgrade reflects CS's successful business expansion and enhanced risk management that has enabled it to increase its lending capacity.
Moody's also upgraded Slovenska sporitelna's (80%-owned by Erste) financial strength rating to D from D- with a positive outlook; its LT and ST deposit ratings remained unchanged at A3/Prime-2. The upgrade recognizes SLSP's improvement in profitability, risk management and market position and its cleaned-up loan portfolio. Source: Reuters.
Jan Hajek