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12.06.2007
Credit rating to Nadra Bank upgraded to uaA-
Credit-Rating, a nationally-recognized credit rating agency in Ukraine has today upgraded to uaA- (uaA minus) from uaBBB+ (uaBBB plus) the long-term credit rating assigned to Kiev-based Nadra OJSC Commercial Bank (`Bank`). In the course of the rating`s revision procedure Credit-Rating used Bank`s financial statement for 2006 as well as other inside information furnished by the Bank.
The uaA issuer rating reflects strong Bank`s capacity to pay its obligations in the Ukrainian financial market environment, it may, though, be more vulnerable to adverse changes in economic, financial and business conditions than obligors rated uaAA and uaAAA. The `+` and `-` modifiers denote rating`s relative status within major categories.
In the course of the rating`s upgrade procedure Credit-Rating took into account growth in Bank`s 2006 key performance indicators entailed by the efficiency of their utilization on higher-than-average Ukrainian level; additional share issues in 2006 resulting in enhanced Bank`s capitalization, and obtaining a syndicated loan. The agency has also noted the exposures associated with the Bank`s aggressive strategy, which may bring to asset deterioration and to rise in exposure.
Information on all the credit ratings assigned in accordance with the Ukrainian national scale may be found in the REUTERS, BLOOMBERG and FTN MONITOR information systems.
For further information, please contact:
Information and analytic department
Sergey Rozumyak +38 044 490 25 50
SRozumyak@credit-rating.com.ua
