MOODY'S DOWNGRADES LANDSBANKI ISLANDS HF TO A2/C-

Info-Prod Research (Middle East),  March, 2008  

Tags: bank, Moody's Corp.

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Moody's Investors Service has today downgradedthe bank financial strength rating ("BFSR") of Landsbanki Islands hf("Landsbanki") to C- from C and its long-term foreign and local currencydeposit ratings to A2 from Aa3. The bank's Prime-1 short-term rating wasaffirmed. The outlook on all ratings is stable.

These rating actionsconclude the review for possible downgrade initiated on 30 January 2008. Moody's review focused on: (i) the sustainability of the bank's earningsin light of the more challenging credit environment, both in Iceland andin the other countries where ...

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