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Moody's assigns ratings to Estonia's AS LHV Pank

Moody's on Dec. 19 assigned to Estonia-based AS LHV Pank foreign- and local-currency, long- and short-term deposit ratings of Baa1/Prime-2, with a stable outlook on the long-term deposit ratings.

The agency also assigned to the bank baseline credit assessment and adjusted baseline credit assessment of "baa3," counterparty risk ratings of A3/Prime-2 and counterparty risk assessment of A3(cr)/Prime-2(cr).

The deposit ratings take into account the bank's strong credit fundamentals, supportive operating conditions in Estonia, and a low level of expected losses for junior depositors in case of bail-in.

Moody's expects the bank to maintain a steady performance over the next 12 to 18 months, which plays into the stable outlook.