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22.12.2010
Credit-Rating assigns UKRGASPROMBANK 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 plus) to Kiev-based UKRGASPROMBANK 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
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Diversification of the bank’s resource base.
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Enhanced equity structure resulting from the fact that the profit earned in previous years has been invested in augmentation of the authorized stock.
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Acceptable currency structure of the loan portfolio.
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Sufficient liquidity ratio coupled with properly balanced assets and liabilities by their due terms.
Factors constraining the credit rating
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Bank’s weak market standing combined with low diversification of revenue sources, which make the bank more vulnerable to credit risk under retaining adverse environment in the national economy.
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Concentrations in the loan portfolio by major borrowers, which may negatively affect bank’s liquidity and capitalization.
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Low performance efficiency indicators.
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Bank’s risk management requires enhancements.
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Retaining adverse environment in the financial market and real sector of economy, which may undermine solvency of certain bank’s borrowers and weigh on bank’s liquidity and capitalization ratios.
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 of
Information and Communications
Sergey Rozumyak +38044490 25
50
SRozumyak@credit-rating.com.ua
Denis
Rudenko
DRudenko@credit-rating.ua
