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18.05.2009
Credit-Rating removes Tavrika JSB from Rating Watch List
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it removed from Rating Watch List and simultaneously affirmed at uaBBB with negative outlook the long-term credit rating assigned to Kiev-based Tavrika JSB (bank).
This rating action is in response to the fact that the banks key figures remain on sufficient level; the bank receives support from the NBU (in the amount of UAH173m or 10% of banks liabilities as of Apr. 1, 2009) and from banks owners.
The remaining negative outlook exhibits risks associated with increasing concentrations in the banks resource base; limited liquidity; concentrations in lending, specifically lending in construction sector, which makes the bank dependant upon a small number of its customers and may negatively affect banks liquidity and capitalization.
An obligor or a debt liability with uaBBB credit rating is characterized with the SUFFICIENT creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is affected by adverse changes in commercial, financial and economic conditions.
Negative outlook indicates that there is a possibility to downgrade the rating in the course of the year, on the condition that negative tendencies are maintained and that 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
