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12.02.2009
Credit-Rating downgrades Bank Kyiv JSCB to uaBB-
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it downgraded to uaBB- (uaBB minus) with negative outlook from uaBBB- (uaBBB minus) the long-term credit rating assigned to Kiev-based Bank Kyiv JSCB (`bank`). Credit-Rating has also removed the rating from Rating Watch List.
This rating action was prompted by bank`s eroded solvency, deteriorated information transparency, and by ban imposed on meeting creditors` claims effective till Aug. 9, 2009, which is connected with the introduction of temporary administration to the institution.
An obligor or a debt liability with uaBB credit rating is characterized with the LOWER THAN SUFFICIENT creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is strongly 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).
Negative outlook indicates that there is a possibility to downgrade the rating in the course of the year, on condition that negative tendencies are retained and current risks are realized.
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
