Moody’s raises outlook on 14 Ukrainian banks to ‘stable’

Moody's Investors Service has raised the outlook to stable from negative on the B3 long-term foreign currency deposit ratings of 14 Ukrainian banks. The outlook on three banks' outstanding foreign currency debt ratings of B1 has also been changed to stable from negative. These rating actions have been prompted by the recent change in outlook on Ukraine's sovereign ceilings to stable from negative, Moody’s said, adding that these ceilings act as a constraint for the foreign currency deposit and debt ratings assigned to banks.
The long-term foreign currency and debt and deposit ratings of other rated Ukrainian banks, whose ratings were not constrained by the country ceilings, were not affected by this rating action.
Moody's said its rating actions were triggered by the change of outlook to stable from negative on Ukraine's foreign currency bank deposit ceiling of B3 and Ukraine's foreign currency bond ceiling of B1.
The banks affected by the rating change are: CIB Credit Agricole, PJSC; OTP Bank Ukraine; Privatbank Commercial Bank CJSC; Ukreximbank; Ukrsibbank; Raiffeisen Bank Aval; Subsidiary Bank Sberbank of Russia; First Ukrainian International Bank, CJSC; Forum Bank; Pivdennyi Bank, JSCB; Savings Bank of Ukraine; Dongorbank; Prominvestbank; and, Ukrgasbank.
The outlook on the foreign currency debt ratings of B1 of the following banks was changed to stable from negative: Privatbank Commercial Bank CJSC; Ukreximbank; Ukrsibbank.