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01.03.2010
Credit-Rating downgrades Petrocommerce-Ukraine Bank to uaBBB
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it downgraded to uaBBB from uaA- (uaA minus) the long-term credit rating assigned to Kiev-based Petrocommerce-Ukraine Bank PJSC (‘bank’). The outlook on the rating is negative.
This rating action is in response to erosion in quality of the bank’s assets. At that, Credit-Rating notes bank’s high liquidity indicators. The bank’s deposit rating has been affirmed at '4' (high strength).
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 condition that negative tendencies are retained and current risks are realized.
The bank deposit rating of '4' (high strength) denotes that the bank is sufficiently reliable, yet being more vulnerable to impact of adverse commercial, financial and economic factors than banks bearing rating '5'. The probability of bank's failure to return deposits is low.
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 +38044490 25 50
SRozumyak@credit-rating.com.ua
Denis
Rudenko
DRudenko@credit-rating.ua
