Economy 2021-06-15T07:41:56+03:00
Ukrainian news
Fitch Upgrades Ratings Of Seven Ukrainian Banks To B- From CCC

Fitch Upgrades Ratings Of Seven Ukrainian Banks To B- From CCC

Ukraine, ratings, Fitch, Oschadbank, Fitch Ratings, banks, Alfa-Bank (Ukraine), Ukrsotsbank, ProCredit Bank, Pravex Bank, Credi Agricol Bank, Ukreximbank

Fitch Ratings, an international ratings agency, has upgraded long-term ratings in foreign currency of seven Ukrainian banks to B- from CCC.

The international ratings agency announced this in a statement, Ukrainian News Agency reports.

In particular, Fitch Ratings upgraded long term ratings of Alfa-Bank (Ukraine), Ukrsotsbank, ProCredit Bank, Pravex Bank, Credi Agricol Bank, Oschadbank, and Ukreximbank to B- from CCC.

The outlook for ratings of six banks is "Stable", the outlook for Pravex Bank's rating is "Negative".

The rating agency maintained the viability ratings of the banks and the rating of the subordinated debt of Ukreximbank.

The rating actions follow Fitch's upgrade of Ukraine's Long-Term Foreign and Local Currency IDRs to 'B-' from 'CCC'.

'B' ratings (Highly speculative) indicate that material default risk is present, but a limited margin of safety remains. Financial commitments are currently being met; however, capacity for continued payment is vulnerable to deterioration in the business and economic environment.

As Ukrainian News Agency reported, Fitch Ratings upgraded Ukraine's long-term foreign- and national-currency Issuer Default Ratings to B from CCC on November 12.

The Outlook on the ratings is Stable.


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