S&P affirms PrivatBank's credit ratings at 'CCC+/C' before their withdrawal

S&P Global Ratings has affirmed PrivatBank's credit ratings at 'CCC+/C' before their withdrawal at the bank's request, as it is ceasing cooperation with the rating agency as part of cost optimization policy.

Read alsoUkraine's Finance Ministry injects UAH 16 bln more into nationalized PrivatBankAt the same time, the bank told UNIAN that it still has credit ratings from Fitch and Moody's.

As UNIAN reported earlier, Fitch in October 2017 affirmed its 'B-' long-term foreign and local currency sovereign ratings on Ukraine with a stable outlook.

UNIAN memo. Dnipro-based PrivatBank has been operating in Ukraine since 1992. It is Ukraine's No. 1 bank in terms of assets.

On December 18, 2016, Ukraine's Cabinet of Ministers decided to nationalize PrivatBank, guided by the recommendations of the National Security and Defense Council of Ukraine based on the National Bank's proposal.