On 30 January 2014 the rating agency Moody's Investors Service upgraded the long-term deposit ratings of Nova KBM to Caa1 from Caa2, and changed the outlook on the ratings from negative to stable. The Bank’s E BFSR was affirmed. Moody's also raised Nova KBM’s baseline credit assessment (BCA) to caa2 from caa3.
The upgrade follows a successful recapitalisation of Nova KBM by the Slovenian government. As a part of the recapitalisation programme, the Bank completed the transfer of a large portion of its non-performing loans to a government-owned Bad Asset Management Company (BAMC). Following these state-aid measures Nova KBM was fully nationalised.
This notice will be available on Nova KBM´s website (www.nkbm.si) from 31 January 2014, for at least five years from the date of its issue.
