„Fitch Ratings“ upgraded long-term perspectives of Šiaulių Bankas

2004-01-16

„Fitch Ratings“ upgraded long-term perspectives of Šiaulių Bankas

Fitch Ratings, the international rating agency, has upgraded the long-term outlook on Šiaulių Bankas AB from Stable to Positive. The agency has affirmed Long-term rating in foreign currencies at ‘B+’, Short-term rating at ‘B’, Individual rating at ‘D’, and Support rating at ‘5’ given to Siauliu Bankas before.
Fitch considers that with Lithuania joining EU in May this year, EU funds will stimulate the development of small and medium business in the country. Šiaulių Bankas’ focus on this market sector means it is well placed to benefit from any pick up.