Economics

Moody's downgrades ratings of seven Ukrainian banks

27 march 2015 | 14:20

The agency equated banks ratings to those of state. 

Moody’s
Banks pay for the plan of Ukrainian government to restructure its debt
Moody's has downgraded the ratings of seven largest Ukrainian banks, including two state banks "Oschadbank" and "Ukreximbank" and leader of the Ukrainian banking market "Privatbank", says a statement of the agency.

Moody's has downgraded the rating of Igor Kolomoysyi's "Privatbank" to "Ca" from "Caa3. The expectation is also negative for the bank, which is explained by pressure on liquidity and capitalization.

Moody's has also downgraded the long-term deposit and debt ratings for "Savings Bank" and "Ukreximbank" to "Ca" from "Caa3 with a negative outlook. The same has been done in regards to "OTP Bank," "Prominvestbank," "Sberbank" and "Bank Finance and Credit." The expectation is negative for all of the above mentioned banks.

Read more: Fitch Ratings: Ukraine's foreign reserves might grow to $ 13 billion

The agency has confirmed the long-term deposit ratings for "Raiffeisen Bank Aval" at "Caa2" and "South Bank" at "Caa3."

Earlier, the agency downgraded its rating for Ukraine. The main reason for such a decrease is government's plans to restructure its Eurobonds and a large external debt.

Source: Interfax-Ukraine

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