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31.10.2006
The Outlook on the OJSC JSB "Ukrgasbank" credit rating changed to Positive
The independent "Credit-Rating" agency has today announced change from Stable to Positive in the Outlook for the uaBBB long-term credit rating of the Kiev-based OJSC JSB "Ukrgasbank". The agency also announced the change from Stable to Positive for the uaBBB long-term credit rating assigned to the issue of the registered interest bonds for the amount of UAH 100 mln. with the 5-year maturity.
During the process of change in credit rating Outlook the following factors were taken into account: raise in openness of the bank's activity, improvement in management quality, development of infrastructure, and growth in main indices of the bank's activity.
The uaBBB long-term credit rating reflects a sufficient bank's capacity to timely and in full meet its financial commitments on the obligation. However, the bank is more vulnerable to the effect of adverse changes in business, financial and economic conditions as compared to the issuers with higher ratings.
The Positive Outlook exhibits a possibility for the rating's upgrade in the course of the year on condition that the negative tendencies are retained and the current risks are reduced.
Information on all the credit ratings assigned in accordance with the Ukrainian national scale can be found in the REUTERS and BLOOMBERG information systems.
For further information, please contact:
Information and analytic department
Sergey Rozumyak +38 044 490 25 50
SRozumyak@credit-rating.com.ua
