Economy 2021-09-15T08:12:47+03:00
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Moody's Places Ukrainian Sberbank's Local-Currency Deposit Rating On Review For Downgrade

Moody's Places Ukrainian Sberbank's Local-Currency Deposit Rating On Review For Downgrade

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Moody's, an international rating agency, has placed on review for downgrade Ukrainian Sberbank PJSC's long-term local currency Caa2 deposit rating and caa2 adjusted baseline credit assessment (BCA).

Moody's announced this in a statement, Ukrainian News Agency reports.

The rating action was taken on Friday, April 7, 2017.

The statement reads that the counterparty risk assessment of Caa2(cr) and the national scale rating of B2.ua were also placed on review for downgrade.

Moody's says that the rating action on Ukrainian Sberbank PJSC's supported ratings reflect the announced signed legal binding agreement on the sale of 100% stake in the bank by Russian Sberbank to the consortium of investors, which include Latvian Norvik Bank and a Belarusian private company.

The statement reads that the transaction is expected to close in the first half of 2017 after receiving approval of the financial and antimonopoly regulators of the relevant jurisdictions, including Latvia and Ukraine.

As Ukrainian News Agency earlier reported, Sberbank (the Russian Federation) has agreed with the Norvik Banka consortium (the Republic of Latvia) and a company from the Republic of Belarus on sale of its Sberbank subsidiary in Ukraine.

On March 23, 2017, the National Bank of Ukraine imposed sanctions for the term of one year against five banks with Russian state capital operating in Ukraine: Sberbank, VTB Bank, BM Bank, Prominvestbank and VS Bank (a subsidiary of Sberbank).

The sanctions ban capital outflow from Ukraine onto the accounts of individuals-beneficiary owners of the capital.

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