print
11.01.2011
Credit-Rating rates Bank Credit Dnepr PJSC at uaA-
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it assigned its long-term credit rating of uaA- (uaA minus) carrying stable outlook to Dnepropetrovsk-based BANK CREDIT DNEPR PJSC (‘bank’). 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 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
- In case of necessity the bank may get necessary backing from its shareholder.
- Bank’s acceptable performance efficiency indicators.
- Bank’s assets and liabilities are properly balanced by their due terms.
Factors constraining the credit rating
- Concentrations in the resource base, which constrains bank’s financial flexibility; concentrations in the loan portfolio that may weigh on bank’s liquidity and capitalization.
- High dependency upon funds of individuals (as at end-3Q2010 the amount of funds attracted from individuals is in excess of over 3.5x of the bank’s regulatory capital).
- Retaining adverse environment in the national financial sector and real sector of economy which may undermine solvency of some borrowers and negatively affect bank’s liquidity and capitalization.
Besides, Credit-Rating notes a large portion of highly liquid assets and satisfactory quality of the bank’s loan portfolio and of its assets in general, accompanied by progressing inflow of customer funds which is bolstered by bank’s expansion in the regions, and bank’s strong standing in Dnepropetrovsk region. Thereat the bank generates stable positive cash flow by both revenue-generating assets and trade and commission activities with these compensating for operating expenses and reserve allocations to lending transactions.
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
