REUTERS
Moody's Investors Service on August 30 upgraded ratings of three state-run banks – PrivatBank, Oschadbank, and Ukreximbank, and three private banks – Raiffeisen Bank Aval, Pivdennyi and Prominvestbank, following a recent improvement in the creditworthiness of the government of Ukraine.
"Specifically, Moody's upgraded the Baseline Credit Assessments (BCAs) of five banks; upgraded the long-term Local Currency (LC) deposit ratings of five banks and affirmed the LC deposit rating of one bank; upgraded the Foreign Currency (FC) deposit ratings of six banks; upgraded the long-term LC senior unsecured debt rating of one bank; upgraded the long-term FC senior unsecured debt ratings of two banks; upgraded the FC subordinated debt ratings of one bank; upgraded the National Scale Ratings (NSRs) of four banks; upgraded the long-term Counterparty Risk Assessments (CR Assessments) of six banks," it said in a statement.
Read alsoNationalized PrivatBank boosts net profit by 3.5 times in Q1In particular, PrivatBank, Oschadbank, and Ukreximbank were assigned 'Caa2' with the positive outlook.
The rating of Raiffeisen Bank Aval was 'Caa1'/Positive Outlook, that of Pivdennyi was 'Caa3'/Positive Outlook, and Prominvestbank had 'Caa2'/Stable Outlook.
As UNIAN reported earlier, Moody's Investors Service on August 25 upgraded the government of Ukraine's local and foreign currency issuer and senior unsecured ratings to Caa2 from Caa3, and changed the rating outlook to positive from stable. Consequently, Moody's upgraded to Caa2 from Caa3 the ratings of Ukraine's nine senior unsecured eurobonds issued in the context of the government's debt exchange operation in November 2015.