London, 27 June 2007 -- Moody's Investors Service today assigned to Norvik Banka JSC a D- bank financial strength rating (BFSR), which translates into a baseline credit assessment of Ba3; a long-term deposit rating of Ba3 and short-term deposit rating of Not-Prime. The outlook on all ratings is stable.

According to Moody's, the main elements underpinning the D- BFSR are the bank's good asset quality and capital adequacy and its new strategic shareholders' commitment to date to increase the capital base in step with the growth of the business.