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02.12.2010
Credit-Rating assigns Zoloti Vorota Bank PJSC uaBBB-
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it assigned a long-term credit rating of uaBBB- (uaBBB minus) to Kharkiv-based Zoloti Vorota Bank PJSC (‘bank’). The outlook on the rating is stable. In the course of the rating procedure Credit-Rating considered bank’s financial statements for 2005-2009 and 9M2010, and its other inside information.
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.
Factors maintaining the credit rating
- Bank’s acceptable liquidity ratios.
- Diversification of bank’s resources by its major creditors.
- Bank’s assets and liabilities are properly balanced by their due terms.
Factors constraining the credit rating
- Low bank’s capitalization ratios.
- Concentrations in the loan portfolio combined with poor provisioning for lending transactions, which may weigh on bank’s liquidity and capitalization.
- Loss-generating performance prompted by eroded quality of the bank’s assets.
- High bank’s dependency upon funds of individuals.
- Bank’s risk management system needs to be enhanced.
- Retaining adverse environment in the financial market and real sector of economy which may undermine solvency of bank’s borrowers and weigh on bank’s key figures.
Information on all credit ratings assigned in accordance with the National Rating Scale may be found in THOMSON REUTERS and BLOOMBERG information systems.
For more information, please contact:
Department for Information and
Communications
Sergey Rozumyak +38044490 25 50
SRozumyak@credit-rating.com.ua
Denis
Rudenko
DRudenko@credit-rating.ua
