print
29.12.2010
Credit-Rating upgrades INDEX-BANK PJSC to uaA+
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it upgraded to uaA+ (uaA plus) from uaA the long-term credit rating assigned to Kiev-based INDEX-BANK PJSC. 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 uaA credit rating is characterized with the HIGHLY STRONG creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is susceptible to 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
- The bank may get necessary backing in case of necessity from its core shareholder –
France-domiciled
Crédit Agricole SA. - The bank’s customer loan portfolio is well diversified by its primary borrowers.
- Bank’s assets and liabilities are well balanced by their due terms.
- Bank’s information transparency and openness.
Factors constraining the credit rating
- Bank’s loss-generating performance combined with its significant administrative expenses.
- Bank’s tending to currency and credit risks, which imposes pressure on the bank’s capital.
- Retaining adverse environment in the financial market and real sector of economy, that has undermined solvency of bank’s borrowers and weighs 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 of Information and
Communications
Sergey Rozumyak +38044490 25 50
SRozumyak@credit-rating.com.ua
Denis
Rudenko
DRudenko@credit-rating.ua
