Moody's affirmed the ratings of BIG, changing the outlook on the long-term ratings

On Wednesday, September 3, international rating agency Moody's Investor Service
affirmed short term ratings of Balti Investeeringute Grupi Pank AS on the
current level changing the outlook on long term ratings to negative from
stable. 

According to Wednesday's announcement by Moody's Investors Service BIG's
long-term rating remained at the level of  B1 and short term deposit rating as
Not Prime. Moody's affirmed the E+ bank financial strength rating and Not Prime
short-term deposit rating. Moody's changed the outlook to negative from stable.
Bank financial strength rating outlook remained stable. 
According to Moody's, BIG has demonstrated rapid growth over the last years.
However, the overall slow-down of the Baltic economies and related weakening in
consumer confidence could exert pressure on the overall debt service ability of
households which could in turn affect BIG's asset quality. 
Targo Raus, CEO of BIG comments that the change in rating outlook was expected,
as in the current situation of slow-down of Baltic economies the international
rating agencies have changed the ratings and rating outlooks of Baltic
countries. BIG's long-term strategy takes into account the possible future
deterioration of asset quality and BIG has maintained conservative liquidity
management. 
The total balance sheet of Balti Investeeringute Grupi Pank AS amounted to 2
699.5 million kroons at the end of Q2 2008. Net profit in Q2 2008 amounted to
40.5 million kroons which is a 24.1% increased compared to the same period last
year. Net profit for H1 2008 amounted to 89.2 million. 
The full text of the announcement is available at http://www.moodys.com. 
The financial reports of BIG are available at http://www.big.ee/?id=119. 




Additional information:

Piret Raudsepp
CFO
Phone: + 372 735 0923
piret.raudsepp@big.ee