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30.01.2009
Credit-Rating downgrades and revises outlooks of a number of banks
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it downgraded and revised outlooks on a number of banks and their debt obligations.
Credit-Rating has downgraded ratings of the following banks: Dnister OJSC and its bonds for UAH40m (series A) to uaBBB- from uaBBB ; National Standard OSJC to uaBB- from uaBB: Bank for Regional Development JSB to uaBB- from uaBBB-; Kyiv JSCB to uaBBB- from uaBBB with simultaneous placement on Rating Watch List. Moreover, the agency has also downgraded to uaA from uaAA- the long-term credit rating assigned to Ukrgasbank OJSC's mortgage-backed bonds for UAH50m (series B) and placed the rating on Rating Watch List. All of the given ratings carry negative outlooks.
Credit-Rating has also changed to negative from stable the outlooks on the ratings assigned to: Bank Petrocommerce-Ukraine (rated uaA-); Evropeyskyi JSCB and its bond issue for UAH20m (series A) (both rated uaBBB- ); Megabank OJSC and its bond issue for UAH225m (series C, D, E, F) (both rated uaA-).
The agency has placed on Rating Watch List with negative outlook the following institutions: Avtokrazbank (rated uaBBB-); Stolytsya CB LLC and its bond issue for UAH50m (series A) (both rated uaBBB-); Tavrika JSCB (rated uaBBB); Transbank JSCB (rated uaBBB-); Terra Bank CJSC and its bond issue for UAH20m (series A) (both rated uaBBB-); Ukrinbank JSC and its bond issue for UAH100m (series A) (both rated uaBBB); Ukrgasbank JSB OJSC and its bond issue for UAH300m (series A, D, E) (both rated uaA).
The agency has also changed to negative from developing and placed on Rating Watch List the outlook on Nadra CB OJSCs uaBB rating.
These rating actions have been prompted by deteriorated liquidity of the banking institutions, and by eroded quality of assets and liabilities of certain banks, with such trend being likely to sustain in future.
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
Denis Rudenko
DRudenko@credit-rating.ua
