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Supervisors Okay NKBM Recapitalisation, S&P Downgrades Bank's Rating

Maribor, 2 April - The supervisors of NKBM nodded on Tuesday to a EUR 100m capital increase at the country's no.2 bank in the form of a conversion of a hybrid loan facility into stock, which will raise the state's stake in the bank from just over 27% to about 79%. Standard & Poor's has meanwhile followed Moody's in downgrading NKBM's credit rating.

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