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Moody's lowers rating on Swedish bank

Thursday, 27 June 2013
Moody's lowers the long and short term rating of Swedish Länsförsäkringar Bank to A3/P-2 from previous A2/P-1, with outlook stable.

According to a press release on Wednesday night, it said that Moody's, relates the downgrade to the relatively thin capitalization at the bank level, that in many years it has relied on high growth from the agricultural sector, and of its dependence on market financing to a high proportion of its funding.

by Scancomark.com Team

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