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30.12.2008
Credit-Rating downgrades ratings and changes outlooks on a number of banks
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it downgraded ratings and changes outlooks on a number of banks (and their debts).
Credit-Rating has downgraded and changed outlooks to negative from stable on the following banks: Kyiv JSCB to uaBBB from uaBBB+ ; Ukrainian Innovation Bank JSC and its UAH100m bonds of series A to uaBBB from uaBBB+ ; Ukrprombank LLC to uaBBB from uaA ; Arkada JSCB and bonds for UAH420m (series P, R, U, V) issued by IK Arkada-Fund LLC to uaBBB from uaA .
Credit-Rating has also changed outlooks to negative from stable on the following banks: Selyanskyi Commercial Bank Dnister and its UAH40m bond issue (series G) rated uaBBB ; Kyivska Rus Joint-Stock Commercial Bank CJSC and its UAH20m bond issue (series B) rated uaBBB ; Misto Bank LLC (rated uaBBB ); Daniel CB LLC (rated uaBBB- ); Bank for Regional Development (rated uaBBB- ); Commercial Bank Pritchernomorye OJSC and its UAH10m bond issue (series B and C) rated uaBBB- ; Business Standard JSB OJSC and its UAH80m bond issue (series A) rated uaBBB- ; Commercial Bank Stolytsya LLC and its UAH50m bond issue (series A) rated uaBBB- ; Terra Bank CJSC and its UAH20m bond issue (series A) rated uaBBB- ; Transbank JSCB (rated uaBBB- ); CLEARING HOUSE JSCB (rated uaBBB ); Universal Commercial Bank Cambio LLC (rated uaBBB- ); Pivdennyi JSCB OJSC (rated uaA+ ).
Credit-Rating has also changed to stable from positive the outlook on uaBBB rating assigned to CB National Standard OJSC.
These rating actions have been prompted by deteriorated business activities in the majority of sectors of Ukraines economy and by decrease in populations incomes, which affects solvency of banks customers; by eroded trust of depositors to the banking system under banks limited access to external money markets and devaluating national currency; and by volatile regulator's policy.
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 analytic department
Sergey Rozumyak +38 044 490 25 50
SRozumyak@credit-rating.ua
