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09.10.2007
Credit-Rating rates Invest-Kredit Bank at uaBBB-
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today assigned Krivyi Rih-based Invest-Kredit Bank CJSC (`Bank`) a long-term credit rating of uaBBB- (uaBBB minus). The agency has also assigned a long-term credit rating of uaBBB- (uaBBB minus) to the Bank`s upcoming UAH20m 3-year issue of registered coupon bonds (A series). In the course of analysis Credit-Rating considered Bank`s financial statements for 2002-2006 and 1H2007 as well as other inside information furnished by the Bank.
An obligor or a debt liability with uaBBB credit rating is characterized with the SUFFICIENT creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is affected by adverse changes in commercial, financial and economic conditions. The plus (+) or minus (-) modifier denotes rating`s relative status within major categories.
Factors maintaining the credit rating
- The Bank`s has sustained an upward trend in its key figures in the past few years, namely starting from 2003 the Bank`s net assets have grown 9.5x to UAH183.38m; the loan and investment portfolio has advanced 10.7x to UAH166.07m with the Bank`s balance stock grown 4.7x to UAH48.24m.
Factors constraining the credit rating
- High concentration of Bank`s loan portfolio which may negatively affect Bank`s profitability in case of complications with even a small number of loans.
- Bank`s underdeveloped branch network entailed by small number of clients, which may hamper Bank`s capabilities in competing of other big and systemic banks.
Information on all credit ratings assigned in accordance with the Ukrainian national scale may be found in 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
