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11.11.2009
Credit-Rating upgrades IMEXBANK JSC to uaBBB-
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it upgraded to uaBBB- (uaBBB minus) from uaBB the long-term credit ratings assigned Odessa-based IMEXBANK JSC (‘bank’) and to the bank’s coupon bonds (series A and series B) for the amount of UAH250m. The outlook on the rating has been changed to stable from positive. To revise the ratings Credit-Rating considered bank’s financial statements for 2007-2008 and 1H2009 and its other inside information.
The rating action is in response to improvement in balance of the bank’s obligations by their due terms, and resolving the issues associated with redemption of bank’s bonds.
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. A plus "+" and a minus "-" signs indicate intermediary categories compared to the standard categories (grades).
Stable outlook indicates that there are no anticipated reasons to change the rating in the course of the year.
Information on all credit ratings assigned in accordance with the National Rating Scale may be found in in REUTERS and BLOOMBERG information systems.
For more information, please contact:
Information and
analytic department
Sergey Rozumyak +38044490 25 50
SRozumyak@credit-rating.com.ua
Denis
Rudenko
DRudenko@credit-rating.ua
