Moody’s reviews 22 Ukrainian banks for possible upgrade

Moody’s Investors Service has placed the B2 long-term foreign-currency deposit ratings of 22 Ukrainian banks on review for possible upgrade. The ratings of foreign currency debt instruments issued by six Ukrainian have also been placed on review for possible upgrade.

This rating action has been triggered by the review for possible upgrade of the B1 local- and foreign-currency bond ratings of the Ukrainian government and Ukraine‘s B2 country ceiling for foreign-currency deposits announced on Friday. Ukraine‘s Ba3 country ceiling for foreign-currency bonds was also placed on review for possible upgrade, whilst the A3 country ceilings for local-currency bonds and the Baa1 country ceiling for local-currency deposits were affirmed with a stable outlook. Short-term ratings remained at Non-Prime.

The only Ukrainian bank ratings that were placed on review for possible upgrade were those whose foreign-currency deposit ratings are currently constrained by the B2 country ceiling for foreign-currency deposits.

Specifically, the B2 long-term foreign-currency deposit ratings of the following banks were placed on review for possible upgrade:
– Alfa Bank Ukraine
– Bank Finance and Credit
– Bank Nadra
– Bank NRB
– Calyon Bank Ukraine
– First Ukrainian International Bank
– Forum Bank
– Index-Bank
– ING Bank Ukraine
– Kreditprombank
– OTP Bank Ukraine
– Pivdennyi Bank
– Pravex-Bank
– Privatbank Commercial Bank
– Prominvestbank
– Raiffeisen Bank Aval
– Savings Bank of Ukraine
– Swedbank Invest
– Swedbank OJSC ( former Tas-Kommerzbank)
– Ukreximbank
– Ukrsibbank
– Ukrsotsbank

Also, the long-term foreign currency debt ratings of the following banks  were placed on review for possible upgrade:
– Forum Bank
– Ukreximbank
– Privatbank
– Ukrsibbank
– Savings Bank of Ukraine
– Ukrsotsbank