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06.12.2010
Credit-Rating upgrades INDUSTRIALBANK JSCB to uaBBB+
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it upgraded to uaBBB+(uaBBB plus) from uaBBB the long-term credit rating assigned to Zaporizhzhia-based INDUSTRIALBANK JSCB (‘bank’). The outlook on the rating is stable. To revise the rating Credit-Rating considered bank’s financial statements for 2008-2009 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
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Bank’s acceptable liquidity and capitalization ratios.
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Sufficient figures of the bank’s performance indicators.
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Bank’s assets and liabilities are properly balanced by their due terms.
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The bank operates a wide-spread branch network and developed card segment, which contributes to maintaining its clientele and competitive standing.
Factors constraining the credit rating
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Concentrations in the loan portfolio, which makes the bank dependent upon financial state of its biggest clients and may negatively affect bank’s liquidity and capitalization.
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Concentrations in the resource base by major creditors, which constrains bank’s financial flexibility and raises the liquidity risk.
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Eroded quality of the loan portfolio.
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Impact of external factors on the financial market accompanied by subsided business activities in the economy, which have undermined borrowers’ solvency and negatively affect bank’s key figures.
Information on all credit ratings assigned in accordance with the National Rating Scale may be found in Credit-Rating’s corporate web-site http://www.credit-rating.com.ua/ , as well as in REUTERS and BLOOMBERG information systems.
For more information, please contact:
Department of
Information and Communication
Sergey Rozumyak +38044490 25 50
SRozumyak@credit-rating.com.ua
Denis
Rudenko
DRudenko@credit-rating.ua
