Moody's assigns Nova Kreditna notes Baa2

Moody's Investors Service said it assigned a Baa2 rating to Nova Kreditna banka Maribor dd's (NKBM) planned euro-denominated senior unsecured bond issue.

“The Baa2 senior unsecured debt rating reflects NKBM's baa3 baseline credit assessment (BCA) and adjusted BCA; the result of Moody's advanced loss given failure (LGF) analysis, which incorporates the relative loss severity of a liability class and in the event of the bank's failure, which does not lead to rating uplift from the adjusted BCA; and Moody's assessment of a moderate likelihood of government support from the government of Slovenia (A3 stable) in case of need because of the domestic systemic relevance of the bank, resulting in one notch of uplift to the senior unsecured debt rating,” the agency said in a press release.

The outlook is stable.

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