An affirmation of short and long-term foreign currency ratings

Capital Intelligence, an international rating agency, announced affirmation of short and long-term foreign currency ratings of BBB- and A3 respectively for Parex banka in Latvia. It also assigned a financial strength rating of BBB- with a support rating of 4. The outlook is positive, that means possible upgrade in the nearest future. Experts of Capital Intelligence have highly evaluated rapid growth of Parex banka in Latvia and neighbouring countries, sound asset quality and diversified customer base. Furthermore Capital Intelligence has particularly noted emission of the Bank’s shares in 2003 and 2004, as well as grown profitability of the Bank, resulted in the significant increase of the capital.