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17.03.2008
Credit-Rating upgrades Energobank to uaBBB+
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it upgraded a long-term credit rating assigned to Kiev-based Energobank JSB (`Bank`) to uaBBB+ (uaBBB plus) from uaBBB. To revise the rating Credit-Rating considered Bank`s financial statements for 2006-2007 as well as its other inside information.
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. A plus "+" and a minus "-" signs indicate intermediary categories compared to the standard categories (grades).
In the course of the rating`s revision procedure Credit-Rating took into account the following factors:
- Bank`s increased capitalization, which led to diluted concentrations on the primary borrowers in the Bank`s loan portfolio relative to 1 st tier capital.
- Enhanced quality of Bank`s loan portfolio and performance indicators coupled with achievement of the planned balance and financial indicators in 2007.
- Bank`s decreased dependency upon its primary lenders.
Information on all credit ratings assigned in accordance with the National Rating Scale may be found in REUTERS and BLOOMBERG information systems.
For more information, please contact:
Information and Communication Department
Sergey Rozumyak +38 044 490 25 50
SRozumyak@credit-rating.com.ua
