REUTERS
Moody's Investors Service has taken rating actions on Tuesday, November 24, on seven Ukrainian banks and one leasing company, according to a posting on the agency's website.
The move follows the recent improvement in the creditworthiness of the government of Ukraine, reflected in Moody's upgrade of Ukraine's sovereign bond rating to Caa3 (stable outlook) from Ca (negative outlook), according to the report.
Specifically, the agency has upgraded long-term LC deposit ratings of Privatbank, Savings Bank of Ukraine (Oschadbank) and Ukreximbank to Caa3 from Ca.
The agency also affirmed Prominvestbank's long-term LC deposit rating of Caa3, with a stable outlook; subsidiary bank Sberbank of Russia's long-term LC deposit rating of Caa2 with a stable outlook; Raiffeisen Bank's Aval long-term LC deposit rating of Caa2 with a stable outlook.
Moody's has upgraded Pivdennyi Bank's long-term LC deposit rating to Caa2 from Caa3.
Moody's has changed the outlooks to stable from negative on all affected banks' ratings.
As UNIAN reported earlier, international rating agencies Moody's Investors Service, Fitch Ratings and Standard & Poor's Ratings Services raised Ukraine's sovereign credit ratings, which were earlier downgraded to RD (Restricted Default) following the completion of the debt restructuring operation.
On August 27, Ukraine and the ad hoc creditors' committee reached an agreement on the restructuring of public debt totaling $8 billion. A meeting was held with the holders of the Ukrainian eurobonds on October 14 in London, where more than 75% of the holders agreed to the restructuring terms.