OREANDA-NEWS. 'Expert RA' rating agency downgraded 'Baltic Bank' creditworthiness rating to В+, which means sufficient credit solvency, with the developing outlook. The developing outlook means equal probability of maintaining and changing the rating in the mid-term. The Bank used to have rating В++, which means acceptable credit solvency, with the developing outlook.

The rating downgrading is due to the extremely low capital adequacy against the background of the bank capital increase time uncertainty. The situation is similar with the maturities of a significant volume of receivables collateralized with the real estate closed mutual fund, which used to be accounted for on the Bank's balance sheet. The Company's loss also pressurizes the rating.