Tuesday05 November 2024
ord-02.com

Fitch has upgraded the credit ratings of Ukrainian banks.

This decision is linked to the recent upgrade of Ukraine's long-term rating from "CCC-" to "CCC+".
Fitch повысил рейтинговые оценки украинских банков.

Fitch Ratings agency has significantly improved the credit ratings of Ukrainian banks following a review of the national rating scale. This decision is linked to the recent upgrade of Ukraine's long-term rating from "CCC-" to "CCC+".

This is mentioned in a press release from the agency.

The key changes affected most of the major banks:

  • The ratings of PrivatBank, Oschadbank, and Ukreximbank have been raised to "AA+(ukr)";
  • PUMB received an upgrade to "AA+(ukr)" due to an increase in capitalization;
  • Sense Bank reached the level of "AA(ukr)";
  • ProCredit Bank has been upgraded to "AA+(ukr)" considering support from its parent company.

It is noted that a feature of this review is that for most banks, the rating increases are related to a technical recalibration of the scale, while PUMB received a higher rating due to actual improvements in financial indicators. Ukreximbank maintained its "AA(ukr)" rating due to a slight decrease in capitalization.

The agency emphasizes a "stable" outlook for all rated banks, indicating positive expectations for the development of Ukraine's banking sector.

Background. Earlier, Mind reported that the international rating agency Fitch Ratings upgraded Ukraine's long-term issuer default rating (IDR) in national currency to "CCC+" from "CCC-" following the successful completion of the Eurobond restructuring.