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Fitch maintains Norvik ratings

Aug 18, 2008
By Mike Collier

RIGA - “Fitch Ratings” has affirmed Norvik Banka's ratings at Long-term Issuer Default (IDR) ‘B+', Short-term IDR ‘B', Individual ‘D' and Support ‘5'. The Support Floor is affirmed at ‘No Floor'. The Outlook for the Long-term IDR remains Stable. The ratings reflect the challenges the bank faces in growing in a slowing Latvian economy without increasing its risk profile. The ratings also take into account its healthy profitability, improved risk management systems and relatively low direct ex ...


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