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<item><link>http://www.alacrastore.com/storecontent/moodys/PR_159682_820226664</link><guid isPermaLink="false">moodys/PR_159682_820226664</guid><moodys:index_mode xmlns:moodys="http://www.alacra.com/moodys">html</moodys:index_mode><description>Global Credit Research Announcement ## JUL ####   Announcement: MKB Unionbank AD Moody's reports: Stable outlook for Bulgarian banking system Limassol, July ##, #### -- The fundamental credit outlook for the Bulgarian banking system...</description><pubDate>7/24/2008 12:31:25 AM</pubDate><moodys:format xmlns:moodys="http://www.alacra.com/moodys">html</moodys:format><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">MKB Unionbank AD</moodys:issuer><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Raiffeisenbank (Bulgaria) EAD</moodys:issuer><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Commercial Bank Investbank AD</moodys:issuer><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Piraeus Bank Bulgaria AD</moodys:issuer><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">DSK Bank PLC</moodys:issuer><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">International Asset Bank AD</moodys:issuer><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">First Investment Bank AD</moodys:issuer><moodys:issuer_list xmlns:moodys="http://www.alacra.com/moodys">Commercial Bank Investbank AD; DSK Bank PLC; First Investment Bank AD; ...</moodys:issuer_list><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">820226664</moodys:org_id><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">820226616</moodys:org_id><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">809185842</moodys:org_id><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">806719787</moodys:org_id><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">600066980</moodys:org_id><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">600062823</moodys:org_id><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">600059120</moodys:org_id><moodys:price xmlns:moodys="http://www.alacra.com/moodys">150.0000</moodys:price><moodys:report_class xmlns:moodys="http://www.alacra.com/moodys">News</moodys:report_class><moodys:report_type xmlns:moodys="http://www.alacra.com/moodys">Announcement</moodys:report_type><title>Moody's reports: Stable outlook for Bulgarian banking system</title><moodys:docid xmlns:moodys="http://www.alacra.com/moodys">PR_159682_820226664</moodys:docid><category>Credit &amp; Investment Research</category><alacra:ip>Moody's Global Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/fitch/389942_report_frame</link><guid isPermaLink="false">fitch/389942_report_frame</guid><fitch:index_mode xmlns:fitch="http://www.alacra.com/fitch">pdf</fitch:index_mode><description>Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.</description><fitch:company xmlns:fitch="http://www.alacra.com/fitch">First Investment Bank AD</fitch:company><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">80960351</fitch:companyid><pubDate>6/13/2008 2:14:00 PM</pubDate><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01010000</fitch:industry><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01010100</fitch:industry><fitch:price xmlns:fitch="http://www.alacra.com/fitch">165</fitch:price><fitch:report xmlns:fitch="http://www.alacra.com/fitch">Credit Update</fitch:report><fitch:ticker xmlns:fitch="http://www.alacra.com/fitch">5F4</fitch:ticker><title>Credit Update on First Investment Bank</title><fitch:docid xmlns:fitch="http://www.alacra.com/fitch">389942_report_frame</fitch:docid><category>Credit &amp; Investment Research</category><alacra:ip>FitchResearch</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/moodys/PR_156019_600059120</link><guid isPermaLink="false">moodys/PR_156019_600059120</guid><moodys:index_mode xmlns:moodys="http://www.alacra.com/moodys">html</moodys:index_mode><description>Global Credit Research Rating Action ## MAY ####   Rating Action: First Investment Bank AD Correction to Text, May ##, #### Release: Moody's reviews First Investment Bank's Ba#/D ratings for downgrade (Bulgaria) The bank's assets were...</description><pubDate>5/23/2008 12:38:40 AM</pubDate><moodys:format xmlns:moodys="http://www.alacra.com/moodys">html</moodys:format><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">First Investment Bank AD</moodys:issuer><moodys:issuer_list xmlns:moodys="http://www.alacra.com/moodys">First Investment Bank AD</moodys:issuer_list><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">600059120</moodys:org_id><moodys:price xmlns:moodys="http://www.alacra.com/moodys">150.0000</moodys:price><moodys:report_class xmlns:moodys="http://www.alacra.com/moodys">News</moodys:report_class><moodys:report_type xmlns:moodys="http://www.alacra.com/moodys">Rating Action</moodys:report_type><title>Correction to Text, May 21, 2008 Release: Moody's reviews First Investment Bank's Ba1/D ratings for downgrade (Bulgaria)</title><moodys:docid xmlns:moodys="http://www.alacra.com/moodys">PR_156019_600059120</moodys:docid><category>Credit &amp; Investment Research</category><alacra:ip>Moody's Global Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/moodys/PR_155937_806570859</link><guid isPermaLink="false">moodys/PR_155937_806570859</guid><moodys:index_mode xmlns:moodys="http://www.alacra.com/moodys">html</moodys:index_mode><description>Global Credit Research Rating Action ## MAY ####   Rating Action: First Investment Finance B.V. Moody's reviews First Investment Bank's Ba#/D ratings for downgrade (Bulgaria) Limassol, May ##, #### -- Moody's Investors Service has today...</description><pubDate>5/22/2008 12:26:32 AM</pubDate><moodys:format xmlns:moodys="http://www.alacra.com/moodys">html</moodys:format><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">First Investment Finance B.V.</moodys:issuer><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">First Investment Bank AD</moodys:issuer><moodys:issuer_list xmlns:moodys="http://www.alacra.com/moodys">First Investment Bank AD; First Investment Finance B.V.</moodys:issuer_list><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">806570859</moodys:org_id><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">600059120</moodys:org_id><moodys:price xmlns:moodys="http://www.alacra.com/moodys">150.0000</moodys:price><moodys:report_class xmlns:moodys="http://www.alacra.com/moodys">News</moodys:report_class><moodys:report_type xmlns:moodys="http://www.alacra.com/moodys">Rating Action</moodys:report_type><title>Moody's reviews First Investment Bank's Ba1/D ratings for downgrade (Bulgaria)</title><moodys:docid xmlns:moodys="http://www.alacra.com/moodys">PR_155937_806570859</moodys:docid><category>Credit &amp; Investment Research</category><alacra:ip>Moody's Global Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/fitch/421072_pr_frame</link><guid isPermaLink="false">fitch/421072_pr_frame</guid><fitch:index_mode xmlns:fitch="http://www.alacra.com/fitch">html</fitch:index_mode><description>Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. 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Copyright ####, Moody s Investors Service,  Inc. and/or its licensors and affiliates  including Moody s Assurance Company, Inc.  (together,   ...

</description><moodys:report_type xmlns:moodys="http://www.alacra.com/moodys">Company Profile</moodys:report_type><pubDate>3/30/2008 8:45:30 PM</pubDate><title>First Investment Bank AD</title><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">First Investment Bank AD</moodys:issuer><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">600059120</moodys:org_id><moodys:price xmlns:moodys="http://www.alacra.com/moodys">550.0000</moodys:price><moodys:report_class xmlns:moodys="http://www.alacra.com/moodys">SpecialReport</moodys:report_class><moodys:format xmlns:moodys="http://www.alacra.com/moodys">pdf</moodys:format><moodys:issuer_list xmlns:moodys="http://www.alacra.com/moodys">First Investment Bank AD</moodys:issuer_list><moodys:docid xmlns:moodys="http://www.alacra.com/moodys">PBC_105666</moodys:docid><category>Credit &amp; Investment Research</category><alacra:ip>Moody's Global Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/moodys/PR_147767_806570859</link><guid isPermaLink="false">moodys/PR_147767_806570859</guid><moodys:index_mode xmlns:moodys="http://www.alacra.com/moodys">html</moodys:index_mode><moodys:report_type xmlns:moodys="http://www.alacra.com/moodys">Rating Action</moodys:report_type><pubDate>1/16/2008 12:35:24 AM</pubDate><title>Moody's assigns ratings to First Investment Bank's EUR500m EMTN programme</title><description>Global Credit Research Rating Action ## JAN ####   Rating Action: First Investment Finance B.V. Moody's assigns ratings to First Investment Bank's EUR###m EMTN programme Ratings carry positive outlook Limassol, January ##, #### -- Moody's...</description><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">First Investment Finance B.V.</moodys:issuer><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">806570859</moodys:org_id><moodys:price xmlns:moodys="http://www.alacra.com/moodys">150.0000</moodys:price><moodys:report_class xmlns:moodys="http://www.alacra.com/moodys">News</moodys:report_class><moodys:format xmlns:moodys="http://www.alacra.com/moodys">html</moodys:format><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">600059120</moodys:org_id><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">First Investment Bank AD</moodys:issuer><moodys:issuer_list xmlns:moodys="http://www.alacra.com/moodys">First Investment Bank AD; First Investment Finance B.V.</moodys:issuer_list><moodys:docid xmlns:moodys="http://www.alacra.com/moodys">PR_147767_806570859</moodys:docid><category>Credit &amp; Investment Research</category><alacra:ip>Moody's Global Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/fitch/401373_pr_frame</link><guid isPermaLink="false">fitch/401373_pr_frame</guid><fitch:index_mode xmlns:fitch="http://www.alacra.com/fitch">html</fitch:index_mode><fitch:company xmlns:fitch="http://www.alacra.com/fitch">First Investment Bank AD</fitch:company><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">80960351</fitch:companyid><pubDate>1/11/2008 10:16:00 AM</pubDate><fitch:price xmlns:fitch="http://www.alacra.com/fitch">75</fitch:price><fitch:report xmlns:fitch="http://www.alacra.com/fitch">Press Release</fitch:report><fitch:ticker xmlns:fitch="http://www.alacra.com/fitch">FIB</fitch:ticker><title>Fitch Rates First Investment Bank's EUR500m EMTN Programme 'BB-'/'B+'/'B'</title><description>Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.</description><fitch:docid xmlns:fitch="http://www.alacra.com/fitch">401373_pr_frame</fitch:docid><category>Credit &amp; Investment Research</category><alacra:ip>FitchResearch</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/moodys/COP_600059120</link><guid isPermaLink="false">moodys/COP_600059120</guid><moodys:index_mode xmlns:moodys="http://www.alacra.com/moodys">html</moodys:index_mode><moodys:report_type xmlns:moodys="http://www.alacra.com/moodys">Credit Opinion</moodys:report_type><pubDate>1/4/2008 2:20:30 AM</pubDate><title>First Investment Bank AD</title><description>Global Credit Research Credit Opinion # NOV ####   Credit Opinion: First Investment Bank AD First Investment Bank AD Sofia, Bulgaria Ratings Category Moody's Rating Outlook Positive Bank Deposits Ba#/NP Bank Financial Strength D First...</description><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">First Investment Bank AD</moodys:issuer><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">600059120</moodys:org_id><moodys:price xmlns:moodys="http://www.alacra.com/moodys">150.0000</moodys:price><moodys:report_class xmlns:moodys="http://www.alacra.com/moodys">News</moodys:report_class><moodys:format xmlns:moodys="http://www.alacra.com/moodys">html</moodys:format><moodys:issuer_list xmlns:moodys="http://www.alacra.com/moodys">First Investment Bank AD</moodys:issuer_list><moodys:docid xmlns:moodys="http://www.alacra.com/moodys">COP_600059120</moodys:docid><category>Credit &amp; Investment Research</category><alacra:ip>Moody's Global Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/moodys/BS_600059120</link><guid isPermaLink="false">moodys/BS_600059120</guid><moodys:index_mode xmlns:moodys="http://www.alacra.com/moodys">html</moodys:index_mode><moodys:report_type xmlns:moodys="http://www.alacra.com/moodys">Banking Statistics</moodys:report_type><pubDate>1/3/2008 8:04:45 PM</pubDate><title>First Investment Bank AD</title><description>Global Credit Research Banking Statistics ## AUG ####   Banking Statistics: First Investment Bank AD First Investment Bank AD   Download Banking Statistics in .csv format Bank Deposit obligation rating: Ba#/NP Bank Financial Strength...</description><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">First Investment Bank AD</moodys:issuer><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">600059120</moodys:org_id><moodys:price xmlns:moodys="http://www.alacra.com/moodys">300.0000</moodys:price><moodys:report_class xmlns:moodys="http://www.alacra.com/moodys">Analysis</moodys:report_class><moodys:format xmlns:moodys="http://www.alacra.com/moodys">html</moodys:format><moodys:issuer_list xmlns:moodys="http://www.alacra.com/moodys">First Investment Bank AD</moodys:issuer_list><moodys:docid xmlns:moodys="http://www.alacra.com/moodys">BS_600059120</moodys:docid><category>Credit &amp; Investment Research</category><alacra:ip>Moody's Global Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/fitch/365082_report_frame</link><guid isPermaLink="false">fitch/365082_report_frame</guid><fitch:index_mode xmlns:fitch="http://www.alacra.com/fitch">pdf</fitch:index_mode><fitch:company xmlns:fitch="http://www.alacra.com/fitch">First Investment Bank AD</fitch:company><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">80960351</fitch:companyid><pubDate>12/29/2007 3:06:00 PM</pubDate><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01010000</fitch:industry><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01010100</fitch:industry><fitch:price xmlns:fitch="http://www.alacra.com/fitch">385</fitch:price><fitch:report xmlns:fitch="http://www.alacra.com/fitch">Full Rating Report</fitch:report><fitch:ticker xmlns:fitch="http://www.alacra.com/fitch">FIB</fitch:ticker><title>Credit Analysis on First Investment Bank</title><description>Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. 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Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.</description><fitch:docid xmlns:fitch="http://www.alacra.com/fitch">398134_pr_frame</fitch:docid><category>Credit &amp; Investment Research</category><alacra:ip>FitchResearch</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/moodys/PR_145485_820226664</link><guid isPermaLink="false">moodys/PR_145485_820226664</guid><moodys:index_mode xmlns:moodys="http://www.alacra.com/moodys">html</moodys:index_mode><moodys:report_type xmlns:moodys="http://www.alacra.com/moodys">Announcement</moodys:report_type><pubDate>12/6/2007 12:18:31 AM</pubDate><title>Moody's reports: Stable to positive outlook for Bulgarian banks</title><description>Global Credit Research Announcement # DEC ####   Announcement: MKB Unionbank AD Moody's reports: Stable to positive outlook for Bulgarian banks Limassol, December ##, #### -- The outlook for bank financial strength ratings (BFSRs) in...</description><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">MKB Unionbank AD</moodys:issuer><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">820226664</moodys:org_id><moodys:price xmlns:moodys="http://www.alacra.com/moodys">150.0000</moodys:price><moodys:report_class xmlns:moodys="http://www.alacra.com/moodys">News</moodys:report_class><moodys:format xmlns:moodys="http://www.alacra.com/moodys">html</moodys:format><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">820226616</moodys:org_id><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Raiffeisenbank (Bulgaria) EAD</moodys:issuer><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">809185842</moodys:org_id><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Commercial Bank Investbank AD</moodys:issuer><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">806719787</moodys:org_id><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Piraeus Bank Bulgaria AD</moodys:issuer><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">600066980</moodys:org_id><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">DSK Bank PLC</moodys:issuer><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">600062823</moodys:org_id><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">International Asset Bank AD</moodys:issuer><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">600059120</moodys:org_id><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">First Investment Bank AD</moodys:issuer><moodys:issuer_list xmlns:moodys="http://www.alacra.com/moodys">Commercial Bank Investbank AD; DSK Bank PLC; First Investment Bank AD; ...</moodys:issuer_list><moodys:docid xmlns:moodys="http://www.alacra.com/moodys">PR_145485_820226664</moodys:docid><category>Credit &amp; Investment Research</category><alacra:ip>Moody's Global Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/moodys/PR_143678_806570859</link><guid isPermaLink="false">moodys/PR_143678_806570859</guid><moodys:index_mode xmlns:moodys="http://www.alacra.com/moodys">html</moodys:index_mode><moodys:report_type xmlns:moodys="http://www.alacra.com/moodys">Rating Action</moodys:report_type><pubDate>11/3/2007 12:19:10 AM</pubDate><title>Moody's changes First Investment Bank's BFSR outlook to positive (Bulgaria)</title><description>Global Credit Research Rating Action # NOV ####   Rating Action: First Investment Finance B.V. 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