Moody's may cut three Armenia banks

Moody's Investors Service said it placed the ratings of Nova Ljubljanska Banka, NLB InterFinanz and Nova Kreditna Banka Maribor on review for possible downgrade.

The ratings on review include Nova Ljubljanska Banka's A1/prime-1 deposit ratings and C- bank financial strength rating, NLB InterFinanz's Baa2 issuer rating and Nova Kreditna Banka Maribor's A2/prime-1 deposit ratings and D+ bank financial strength rating.

The agency also said it affirmed the A3/prime-2 deposit ratings and D+ bank financial strength rating of Abanka Vipa with a negative outlook.

The review is driven by the worse-than-expected asset quality deterioration of the banks in the second half of 2009, Moody's said, and continuing uncertainty about the strength of the economic recovery in Slovenia and the neighboring markets in which the banks operate.

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