19.01.2012 Current Report No. 4/2012The Management Board of BRE Bank SA announces that on 19 January 2012, Moody’s Investors Service downgraded the long-term rating for BRE Bank from "Baa1" to "Baa2" (ninth best rating on a scale of 21). Moody’s decision is a result of downgrading the bank financial strength rating (BFSR) for Commerzbank from "C-" do "D+" on 18 January 2012. The long-term rating for BRE Bank takes into account the assessment of potential support from Commerzbank and systemic support.Both the long-term and short-term rating for BRE Bank ("Baa2" and "Prime-2" respectively), as well as the financial strength rating for Commerzbank, were placed on watch negative.The financial strength rating for BRE Bank, reflecting the actual individual assessment of the Bank's creditworthiness without the potential external support, has remained unchanged ("D").The financial strength rating outlook for BRE Bank is stable.