Moody's Investors Service today downgraded the long-term foreign and local currency deposit ratings of Landsbanki Islands hf ("Landsbanki") to Caa1 from A2 and its bank financial strength rating ("BFSR") to E from C-. The bank's Prime-1 short-term rating was also downgraded to 'Not-Prime'. The outlook on all ratings is developing. For further information on the rating action, please refer to the attached press release from Moody's. For further information please contact: Brynjólfur Helgason, Alternate CEO and MD International Banking. Media Relations - Andrew Walton, Financial Dynamics, tel: +44 20 7269 7204 / mob: +44 7711 264 157.
Moody's Downgrades Landsbanki's Credit Rating to Caa1/E/NP
| Source: Landsbanki Íslands hf.