* Riksbank says signs real economy in Baltics stabilising
* Says risks still remain for Sweden
* Says banks' credit ratings may come under further pressure
(Adds quotes, background)
STOCKHOLM, Sept 9 (Reuters) - Sweden's central bank said on Wednesday there were signs the real economy in the Baltics had begun to stabilise, but that problems in the region still posed a threat to the Nordic country.
Riksbank Deputy Governor Lars Nyberg said in a speech posted on the central bank Web site that recovery in the hard-hit Baltic economies would likely be a long, slow process.
"From a Swedish perspective, economic development in the Baltic states still constitutes a significant risk," he said.
Although Swedish banks -- the major players in the Baltic region -- had strengthened their capital bases, the danger had not yet passed, he said.
"If the situation deteriorates more than expected, credit ratings may come under pressure and the banks may experience funding difficulties once again," he said.
Swedish banks' loan losses totalled 30 billion Swedish crowns ($4.3 billion) in the first six months of the year with nearly half of the total coming from the Baltics.
Nyberg's comments come a day after Moody's Investors Service downgraded ratings for Swedbank, the Nordic bank with the biggest exposure to the Baltic region, and three other Swedish banks.
Moody's said Swedbank was under pressure due to a possible further deterioration in all of its markets, in particular the Baltic states and Ukraine.
"The credit costs of Swedbank's international exposure have climbed materially over the past year and ... will remain high in the near term, continuing to severely weaken the bank's profitability and capitalisation," Moody's said in its report.
Nyberg said there were signs of stabilisation in the global economy and reasons to be cautiously optimistic.
He said that, according to the Riksbank's forecast, the central bank would probably need to raise the interest rate "quite quickly" following a period of low interest rates.
Nyberg supported the Riksbank's decision last week to hold the repo rate at a record low of 0.25 percent. But he, along with Deputy Governor Barbro Wickman-Parak, entered reservations about the growth forecasts and the repo rate path, believing rates would need to be raised slightly earlier than forecast in the Riksbank's monetary policy update. (Editing by Stephen Nisbet)