Nova KBM
 

Moody´s: Rating upgrade and expectation of modest profitability for Nova KBM | NKBM

On 9 June 2015, Moody´s Investors Service upgraded Nova KBM´s long-term local and foreign-currency deposit ratings to 'B3' from 'Caa1', and at the same time raised the outlook on the ratings to 'positive' from 'stable'. Moody´s also upgraded Nova KBM´s baseline credit assessment (BCA) and adjusted BCA to 'caa1' from 'caa2'. Short-term local and foreign-currency deposit ratings were affirmed at 'Not Prime'.

Moody´s: Rating upgrade and expectation of modest profitability for Nova KBM

10 June 2015
OBVESTILA
On 9 June 2015, Moody´s Investors Service upgraded Nova KBM´s long-term local and foreign-currency deposit ratings to 'B3' from 'Caa1', and at the same time raised the outlook on the ratings to 'positive' from 'stable'. Moody´s also upgraded Nova KBM´s baseline credit assessment (BCA) and adjusted BCA to 'caa1' from 'caa2'. Short-term local and foreign-currency deposit ratings were affirmed at 'Not Prime'.
 

The rating upgrade to 'B3/Not Prime' from 'Caa1/Not Prime' reflects Nova KBM´s improved results during the assessment period. Moody´s expects that Nova KBM´s capital adequacy will remain strong in 2015, with its operations continuing to be characterised by limited lending growth and moderate profitability.

 

Moody´s expectations referred to above are already being realized: Nova KBM is delivering a stable, sound and profitable performance. For the first quarter of the year, it reported a net profit of nearly €11.9 million, compared to €12.3 million reported by the Nova KBM Group as a whole. Moreover, thanks to the successful implementation of appropriate cost-cutting measures, the operating costs incurred at the Nova KBM Group level were reduced by 4.7% compared to the same period a year ago.