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31.03.2009
Credit-Rating changes several bank deposit ratings
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it revised bank deposit ratings (BDR), which were previously assigned to 73 Ukrainian banks. Basing on the analysis of the banks performance, the agency upgraded BDRs of 4 financial institutions and downgraded 2 BDRs. Credit-Rating has also assigned one BDR.
The majority of the banks (43) demonstrate moderate strength of the deposits (rated 3). The 5rating is carried by 8 institutions, with the number of banks bearing rating 4 (high strength) increased to 10. The strength of deposits in 13 banks remains below medium recorded at 2 (below medium strength) and 1 (low strength).
The agencys methodology envisages constant monitoring of financial state of the institutions and revision of their rating on regular basis. Information featuring current BDRs, which are permitted by the banks for publishing, is available at Credit-Ratings web-site. As at today, 12 banking institutions have revealed information on the level of their ratings. Other ratings will be published upon receiving permissions from the corresponding banks. In Stanislav Dubko, Credit-Rating CEOs view under wide-spread lost of peoples confidence to the banking system, the advantages in servicing natural persons will be obtained by the banks, which may demonstrate rating 3 and higher (medium strength) to the depositor.
The BDRs are variable and may be revised in cases and/or changes in indicators of banks performance, which may have impact on the banks capacity to timely make payments on the deposits. Further changes in rating are contingent upon banks capacity to maintain its financial indicators on the adequate level under adverse environment in the country. The rating may possibly be affected by changes in external environment (operational conditions), specifically in regulators policy, states or owners readiness and ability to render financial backing to the institutions.
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
