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02.03.2009
Credit-Rating downgrades Transbank JSCB to uaBB-
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it downgraded to uaBB- (uaBB minus) the long-term credit rating assigned to Kiev-based Transbank JSCB (bank). The outlook on the rating is negative.
Credit-Rating earlier lowered the banks rating to uaBBB-, with the outlook changed to negative from stable. In January 2009 the banks rating was placed on Rating Watch List. Further erosion in banks solvency prompted downgrade of teh rating to speculative grade with its simultaneous removal from the Rating Watch List.
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 Credit-Ratings corporate web-site www.credit-rating.ua, as well as 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
