Moody’s affirms Coop Pank’s ratings and positive outlook
Moody’s affirms Coop Pank’s ratings and positive outlook
The rating agency Moody's Ratings affirmed Coop Pank's Credit rating at current
level with positive outlook. Long- and short-term deposit rating remained on the
level of Baa2 and rating outlook remained positive.
According to Paavo Truu, CFO of Coop Pank, the affirmation of the credit rating
and positive outlook at the current level confirms that the bank is trustworthy
with solid capital base, good profitability and high quality of the loan
portfolio. "The affirmation of the rating and positive outlook gives private
individuals and businesses additional confidence to become a customer of Coop
Pank and keep their money in a domestic financial institution," said Truu.
Ratings affirmed by Moody's Ratings for Coop Pank AS:
* Foreign- and local currency long- and short-term bank deposit rating
Baa2/Prime-2
* Long- and short-term counterparty risk assessment of Baa1(cr)/Prime-2(cr)
* Long- and short-term counterparty risk rating of Baa1/Prime-2
* Baseline credit assessment (BCA) ba1
* Adjusted baseline credit assessment ba1
The long-term deposit ratings carry a positive outlook.
The announcement on the report prepared by Moody's can be found at
https://ratings.moodys.com/ratings-news
Coop Pank, based on Estonian capital, is one of the five universal banks
operating in Estonia. The number of clients using Coop Pank for their daily
banking reached 224,000. Coop Pank aims to put the synergy generated by the
interaction of retail business and banking to good use and to bring everyday
banking services closer to people's homes. The strategic shareholder of the bank
is the domestic retail chain Coop Eesti, comprising of 320 stores.
Additional information:
Paavo Truu
CFO
Phone: +372 5160 231
E-mail: [email protected] (mailto:[email protected])