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09.06.2010
Credit-Rating upgrades First Ukrainian International Bank CJSC to uaA
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it upgraded to uaA from uaBBB the long-term credit rating assigned to Donetsk-based First Ukrainian International Bank CJSC (‘bank’). The outlook on the rating is stable. To revise the rating Credit-Rating considered bank’s financial statements for 2005-2009 and 1Q2010 and its other inside information.
An obligor or a debt liability with uaA credit rating is characterized with the HIGH STRONG creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is susceptible to adverse changes in commercial, financial and economic conditions.
Stable outlook indicates that there are no anticipated reasons to change the rating in the course of the year.
Factors maintaining the credit rating
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Diversification of the loan portfolio by major borrowers and types of business.
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Sufficient indicators of capitalization and liquidity.
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Enhanced quality of the bank’s resources.
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The bank’s assets and liabilities are well balanced by due terms.
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The bank operates a wide-spread branch network and developed card segment, which contributes to maintenance of clientele and bank’s competitive standing.
Factors constraining the credit rating
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Bank’s tending to currency and credit risks, which imposes pressure on its capital.
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A considerable share of overdue debts in the customer loan portfolio.
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Retaining adverse environment in the financial market and real sector of economy which may undermine borrowers’ solvency and weighs on bank’s financial indicators.
Information on all credit ratings assigned in accordance with the National Rating Scale may be found in REUTERS and BLOOMBERG information systems.
For more information, please contact:
Information and
analytic department
Sergey Rozumyak +38044490 25 50
SRozumyak@credit-rating.com.ua
Denis
Rudenko
DRudenko@credit-rating.ua
