LHV Group Receives Positive Upgrade from Moody's Rating Agency
LHV Group Gains Strong Ratings Boost from Moody's
In a significant development for LHV Group, Moody's Investors Service has upgraded the company's long-term issuer and senior unsecured ratings to Baa2, highlighting a positive outlook for the financial institution. Alongside this, a Ba1 rating has been assigned to LHV Group's proposed subordinated notes, underscoring a robust financial standing and a commitment to strengthening its resilience.
Understanding the Upgrade in Ratings
The upgrade to LHV Group’s ratings reflects not only its solid capitalization but also conveys confidence in its future stability. Moody's has assessed LHV Group positively, as indicated by their detailed breakdown of long-term issuer ratings:
- Long-term issuer rating: Baa2
- Senior unsecured rating: Baa2
- Subordinated notes (Tier 2): Ba1
- Outlook: Positive
This positive outlook speaks to expectations of continued strength in LHV’s financial framework.
Moody's Assessment of AS LHV Pank
Moreover, Moody's has reaffirmed ratings assigned specifically to AS LHV Pank, detailing a strong counterparty risk assessment and ratings:
- Long- and short-term counterparty risk assessment: A3(cr)/Prime-2(cr)
- Long- and short-term counterparty risk rating: A3/Prime-2
- Long-term bank deposit rating: A3
- Short-term bank deposit rating: Prime-2
- Long-term deposit rating outlook: Positive
LHV Group - A Leader in the Estonian Banking Sector
LHV Group stands as a key pillar in Estonia's financial landscape, catering to a diverse clientele. As the largest domestic financial group in the nation, LHV operates through several subsidiaries, including LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. With over 1,100 employees, the group has become a formidable force in banking, investment, and insurance.
Customer Base and Services
As part of its growth, LHV Group serves about 476,000 customers through its banking services, while its pension funds attract 109,000 active users. Additionally, LHV Kindlustus provides coverage to 177,000 clients, showcasing the group’s expansive reach and trust within the community. LHV Bank Limited operates in the UK, offering banking services to international fintech firms and loans aimed at small to medium enterprises.
Contacting LHV Group
For inquiries related to investments or communications, interested parties can reach the following representatives:
Investor Relations:
Sten Hans Jakobsoo
Head of Investor Relations and Corporate Development
Email: stenhans.jakobsoo@lhv.ee
Communications:
Paul Pihlak
Head of Communications
Email: paul.pihlak@lhv.ee
Frequently Asked Questions
What does the recent rating upgrade mean for LHV Group?
The upgrade to Baa2 reflects LHV Group’s strong financial health and positive future prospects as assessed by Moody's Investors Service.
Who are the key personnel at LHV Group?
Sten Hans Jakobsoo leads Investor Relations, while Paul Pihlak is the Head of Communications at LHV Group.
How many customers does LHV Group serve?
LHV Group serves approximately 476,000 customers through their banking services.
In which countries does LHV Group operate?
LHV Group primarily operates in Estonia and also has a subsidiary, LHV Bank Limited, providing services in the United Kingdom.
What types of services does LHV Group offer?
LHV Group offers a range of financial services including banking, investment management, insurance, and pension fund management.
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