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Fitch downgrades DnB Nord
Danuta Pavilenene, BC, Vilnius, 20.04.2009.
Print version
Print versionThe international ratings agency Fitch Ratings has downgraded the individual rating of the DnB Nord bank to 'D/E' from 'C/D' and affirmed the Long-term Issuer Default Rating (IDR) at 'A' with a negative outlook.
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The ratings agency confirmed the bank's short-term IDR at 'F1' and Support Rating at 1. According to Fitch Ratings, the downgrades of the Individual ratings of all the rated Baltic subsidiaries of Nordic banks reflect the rapid deterioration in the operating environment in Estonia, Lithuania and Latvia, writes ELTA.
The commercial bank DnB Nord belongs to the bank group of DnB Nord registered in Denmark, which was established by the largest Norwegian bank DnB Nor and the largest North Germany's bank Norddeutsche Landesbank Girozentrale (NORD/LB).
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