Moody's may still cut Parex

Moody's Investors Service said it maintained Parex Bank's B2 long-term local and foreign currency deposit and debt ratings on review for possible downgrade.

The outlook on the E bank financial strength rating remains stable, the agency said, adding that the bank's Not Prime short-term rating was affirmed.

Initially, Moody's said it placed Parex Bank's debt and deposits ratings on review on five December. The review focused on Parex Bank's liquidity position and on the government's intentions with respect to the bank's future. It also focused on the progress of the bank's sale process.

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