On 07 April 2009 Moody's Investors Service downgraded the rating of all Latvian Mortgage Bonds issued by Mortgage and Land Bank of Latvia to A3 from A2. The change in the rating was performed due to the weakening of economic situation in Latvia. As of March 31, 2009 the assets of Mortgage and Land Bank of Latvia were LVL 972 mln. and its equity capital together with subordinated liabilities comprised LVL 122 mln.
Moody's downgraded Covered Bonds issued by Mortgage and Land Bank of Latvia to A3 from A2 due to Latvia's economic outlook.
| Source: Latvijas Hipoteku un zemes banka