Fitch upgraded the ratings of several Ukrainian banks

Fitch повысило рейтинги нескольким украинским банкам

International rating Agency Fitch Ratings upgraded long-term Issuer default rating in foreign currency (IDR) of seven Ukrainian banks from “B” to “B”, forecasts are positive.

According to the news Agency on Tuesday, in particular, the improved ratings of Oschadbank, Ukreximbank, PrivatBank, Ukrgasbank, Credit Agricole Bank, ProCredit Bank, PRAVEX-Bank.

The Agency also affirmed long-term IDR of Alfa-Bank (Ukraine) in foreign currency at “b-” with a stable Outlook while simultaneously reducing its national scale rating from AA(ukr) to BBB+(ukr).

In addition, Fitch has placed the viability ratings of the above banks on a possible revision upwards (RWP).

“RWP reflects Fitch’s expectation, according to which the increased macroeconomic stability in Ukraine, economic prospects, and further stabilization of the credit profile of the state should have a positive impact on the creditworthiness of the Bank as an independent unit. Fitch’s opinion on the operating environment in Ukraine also takes into account the indicators showing the recovery of the banking sector, improving the General level of solvency and reducing risks of refinancing”, – stated in the message.

Fitch stated that the increase became possible thanks to a similar revision of the sovereign rating of Ukraine on 6 September 2019 with the level of “B-” to “B”.