Credit ratings

01.01.2009

 

Banka Koper Maintains High Credit Rating

The London-based international ratings agency, Fitch Ratings, has, again, confirmed the high credit rating of Banka Koper. This means that its Long-Term credit rating remains at A+, its Short-Term credit rating at F1, its external Support Rating at 1, and its Individual Rating at C. The Outlook for its Long-Term Rating is Stable.

In determining these ratings, the agency used standard rating principles. The Long-Term and Short-Term credit ratings, along with the Support Rating of Banka Koper, reflect the high probability that the main shareholder, Intesa Sanpaolo, with a Long-Term IDR credit rating at AA-, will offer support to Banka Koper should it be required. Intesa Sanpaolo is the second largest Italian banking group with a fairly diverse network in the region of Central and Eastern Europe.

International Credit Ratings

  Rating 2008
 Rating 2007 Rating 2006 Rating 2005 Rating 2004
Long-term A+ A+ A+ BBB+ BBB
Short-term F1 F1 F1 F2 F3
Individual C C C C C
Support 1 1 1 3 3

Banka Koper’s Individual Rating is based on its strong regional franchise, sound and adequate capital, adequate reserves and liquidity and good profitability, as well as the positive influence of its main shareholder, who also has a high credit rating.

The Outlook for the Long-Term IDR rating is Stable, in accordance with the Stable Outlook for the strategic owner’s Long-Term IDR rating. A change in the credit rating of Intese Sanpaolo could cause a change in Banka Koper’s credit rating. Additionally, Banka Koper’s credit rating could be influenced by a change in the cooperation between the strategic owner and Banka Koper, or by a change of Intese Sanpaolo’s general approach and support to Banka Koper. In Fitch Ratings’ opinion, this is not to be expected.

If these trends continue, this could lead to the lowering of Banka Koper’s Individual Rating.