New York, August 7 (FinanceEnquiry.com) – Analysts at Moody’s Investors Service has downgraded the government guaranteed debt ratings of Abanka Vipa and Factor Banks from A2 to Baa2. Moody’s also downgraded the issuer and senior unsecured ratings of SID Banka, a government owned specialized bank whose liabilities benefit from a government guarantee from A2 to Baa2.
In a research note published yesterday, the analysts mention that in downgrading the government debt issuance of both entities to Baa2 with a negative outlook from A2, Moody’s notes that the rating was at the same level as the Slovenian government bond rating. This indicates the Republic of Slovenia’s unconditional and irrevocable guarantee of the due and punctual payment of all sums due and payable by both the entities as contractually required under the conditions of this debt instrument.
Moody’s downgraded the issuer and senior unsecured ratings of SID Banka, which was a government owned specialized development bank by three notches, from A2 to Baa2 with a negative outlook. The bank continues to be rated at the same level as the government bond rating on the basis of the bank’s full ownership by the government, an explicit government guarantee on all the bank’s liabilities and the bank’s policy mandate in extending funding to development projects and the promotion of export activities in the Slovenian economy, the analysts say.
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