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:
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.