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Moody's withdraws Bulgarian Fibank's ratings for "own business reasons"

Author Mario Tanev
Moody's withdraws Bulgarian Fibank's ratings for "own business reasons" Author: First Investment Bank Licence: All Rights Reserved

SOFIA (Bulgaria), August 22 (SeeNews) - Moody's Investors Service (Moody's) said on Thursday that it has withdrawn all of its ratings and assessments for Bulgaria's First Investment Bank (Fibank) [BUL:5F4], including the bank's B3 deposit ratings, for its own business reasons.

At the time of the withdrawal, Fibank's long-term deposit ratings carried a negative outlook, Moody's said in a statement.

Moody's also said in its statement:

"RATINGS RATIONALE

Moody's has decided to withdraw the ratings for its own business reasons. Please refer to the Moody's Investors Service Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com.

LIST OF ALL AFFECTED RATINGS AND ASSESSMENTS

..Issuer: First Investment Bank AD

Withdrawals:

.... Adjusted Baseline Credit Assessment, previously rated caa1

.... Baseline Credit Assessment, previously rated caa1

.... Long-term Counterparty Risk Assessment, previously rated Ba3(cr)

.... Short-term Counterparty Risk Assessment, previously rated NP(cr)

.... Long-term Counterparty Risk Rating, previously rated B1

.... Short-term Counterparty Risk Rating, previously rated NP

.....Long-term Bank Deposit Ratings, previously rated B3, outlook changed to Rating Withdrawn from Negative

.... Short-term Bank Deposit Ratings, previously rated NP

Outlook Action:

....Outlook, Changed To Rating Withdrawn From Negative"

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