{"id":7720,"date":"2019-03-26T14:39:31","date_gmt":"2019-03-26T12:39:31","guid":{"rendered":"https:\/\/www.altum.lv\/moodys-reconfirms-altums-baa1-issuer-rating-and-upgrades-the-baseline-credit-assessment-to-baa3-from-ba2\/"},"modified":"2022-05-19T10:44:48","modified_gmt":"2022-05-19T08:44:48","slug":"moodys-reconfirms-altums-baa1-issuer-rating-and-upgrades-the-baseline-credit-assessment-to-baa3-from-ba2","status":"publish","type":"post","link":"https:\/\/www.altum.lv\/en\/moodys-reconfirms-altums-baa1-issuer-rating-and-upgrades-the-baseline-credit-assessment-to-baa3-from-ba2\/","title":{"rendered":"Moody\u2019s reconfirms Altum\u2019s Baa1 issuer rating and upgrades the baseline credit assessment to baa3 from ba2"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"7720\" class=\"elementor elementor-7720 elementor-4651\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section altum__default elementor-element elementor-element-1ac0419 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1ac0419\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cba75cf\" data-id=\"cba75cf\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0c1d77b elementor-widget elementor-widget-text-editor\" data-id=\"0c1d77b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>On 25 March 2019 Moody\u2019s Investors Service (Moody\u2019s) reconfirmed JSC Development Finance Institution Altum\u2019s (Altum) Baa1 long-term issuer rating, with outlook stable. The baseline credit assessment (BCA) was upgraded to baa3 from ba2. The short-term issuer rating was affirmed at P-2.<\/p><p>\u00a0<\/p><p>The assigned Moody\u2019s rating of Altum of Baa1 is one of the highest issuer ratings assigned to corporate entities in Latvia. Altum baseline credit assessment upgrade from ba2 to investment grade rating baa3 as follows from Moody\u2019s assessment, represents:<br \/><br \/><\/p><ul><li>the strong financial profile of the company with very strong capitalization, large risk coverage reserve incorporated in the public funding as well as the funding reinvestment in implementation of new financial instruments products against moderate profitability and level of problem loans, as stipulated by Altum business specifics; and<\/li><li>the unique standing of Altum in Latvia\u2019s financial services industry reflecting its policy mandate to provide a distribution channel for state and EU program funds to both end-customers (business startups, small and medium corporates, farmers, etc.) and other financial institutions.\u201d\u00a0\u00a0 \u00a0<\/li><\/ul><p>\u00a0<\/p><h3>J\u0101nis Reirs, Minister of Finance:<\/h3><p>\u00a0<\/p><p>\u201cDevelopment Finance Institution ALTUM, among financial service provides of Latvia, is an outstanding example of focused long-term development and innovative solutions to contribute to a strong financial standing. The very high rating assigned by Moody`s is a recognition of ALTUM\u2019s sound corporate governance practice in the segment of state enterprises and its sustainable vision of its further activity and development of the national economy.\u201d<\/p><p>\u00a0<\/p><p>\u00a0<\/p><h3>Reinis B\u0113rzi\u0146\u0161, Chairman of ALTUM\u2019s Board:<\/h3><p>\u00a0<\/p><p>\u201cThe high investment-grade rating improves our efficiency in dealing with investors and our ability of raising funds in capital markets for financing sustainable business projects that are vital for the national economy.\u201d<\/p><p><br \/>This action concludes the Moody\u2019s review for upgrade initiated in December 2018 following the introduction of an updated Moody\u2019s finance companies methodology. Moody\u2019s initially assigned to Altum a long-term issuer rating Baa1 in June 2017.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>On 25 March 2019 Moody\u2019s Investors Service (Moody\u2019s) reconfirmed JSC Development Finance Institution Altum\u2019s (Altum) Baa1 long-term issuer rating, with outlook stable. The baseline credit assessment (BCA) was upgraded to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4653,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[25],"tags":[],"class_list":["post-7720","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Moody\u2019s reconfirms Altum\u2019s Baa1 issuer rating and upgrades the baseline credit assessment to baa3 from ba2 - Altum<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.altum.lv\/en\/moodys-reconfirms-altums-baa1-issuer-rating-and-upgrades-the-baseline-credit-assessment-to-baa3-from-ba2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Moody\u2019s reconfirms Altum\u2019s Baa1 issuer rating and upgrades the baseline credit assessment to baa3 from ba2 - Altum\" \/>\n<meta property=\"og:description\" content=\"On 25 March 2019 Moody\u2019s Investors Service (Moody\u2019s) reconfirmed JSC Development Finance Institution Altum\u2019s (Altum) Baa1 long-term issuer rating, with outlook stable. The baseline credit assessment (BCA) was upgraded to [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.altum.lv\/en\/moodys-reconfirms-altums-baa1-issuer-rating-and-upgrades-the-baseline-credit-assessment-to-baa3-from-ba2\/\" \/>\n<meta property=\"og:site_name\" content=\"Altum\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AltumLV\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-26T12:39:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-19T08:44:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.altum.lv\/wp-content\/uploads\/2022\/05\/opening-3018cc11fe39.png\" \/>\n\t<meta property=\"og:image:width\" content=\"760\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"altum\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@altumlv\" \/>\n<meta name=\"twitter:site\" content=\"@altumlv\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"altum\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.altum.lv\/en\/moodys-reconfirms-altums-baa1-issuer-rating-and-upgrades-the-baseline-credit-assessment-to-baa3-from-ba2\/\",\"url\":\"https:\/\/www.altum.lv\/en\/moodys-reconfirms-altums-baa1-issuer-rating-and-upgrades-the-baseline-credit-assessment-to-baa3-from-ba2\/\",\"name\":\"Moody\u2019s reconfirms Altum\u2019s Baa1 issuer rating and upgrades the baseline credit assessment to baa3 from ba2 - 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