On Feb. 22, 2008 the NBU`s decree #39 proclaimed a withdrawal of license and initiating of liquidation procedure of European Bank for Development and Savings OJSC (`Bank`). According to the decree, the major reasons for Bank`s liquidation are aggravation of the Bank`s solvency and Bank`s breaches of the banking law...
Credit-Rating believes the rise in electricity prices expected in 2008 may have negative impact on performance of companies operating in Ukraine's power-hungry industries. The most vulnerable to the rise are aluminum and ferroalloy sectors, where specific gravity of electricity in production primary cost makes up from 30 to 50 percent...
Credit-Rating anticipates 2008 to see a number of mergers and acquisitions in oil & fat and sugar sectors of Ukraine`s agriculture industry. Thus, the trend at consolidation and further development of vertically integrated holdings will be further retained, with small companies being likely to be acquired...
Credit-Rating foresees stable development of Ukraine`s mining and metallurgy industry in 2008. Among the primary factors to underpin ratings of national mining and metallurgy companies are relatively low level of costs and conservative fiscal policy the majority of the companies adhere to...
Credit-Rating foresees the number of housing bond issuances to be decreasing in 2008. It is primarily associated with the toughened requirements for registration of issues imposed by transitory provisions of the Law of Ukraine `On securities and stock market`, which limit size of issue versus issuer`s equity...
In Credit-Rating`s view, the national banking system will maintain high growth rates in 2008. Considering tightened requirements for capitalization, the banks will likely to expand their authorized stocks and operations with affiliated parties. Thereat, the proceeds from operations will shrink...
Credit-Rating anticipates a surge in overall volume of municipal borrowings in 2008. Such cities as Zaporizhya, Vinnitsa, Lutsk, Cherkassy and others have already experienced bond issuances. Credit-Rating expects more 10 oblast centres and cities of regional importance, which have not attracted funds from the market before, to use such leverage...
Starting from 24 December 2007 insurers has a right of placing their reserves in attractive assets to their discretion with no diversification. Thereat, the groups of assets remain the same: bank deposits, current accounts, real estate property, securities, right for claim to reinsurers and others...
Starting from 24 December 2007 insurers has a right of placing their reserves in attractive assets to their discretion with no diversification. Thereat, the groups of assets remain the same: bank deposits, current accounts, real estate property, securities, right for claim to reinsurers and others...