Fitch Ratings has assigned Kondor Finance plc’s proposed loan participation notes (LPNs) an expected senior unsecured ‘B-(EXP)’ rating and Recovery Rating (RR) of ‘RR4.’ According to a press release of Fitch published on November 2, the LPNs will be issued by Kondor Finance (the U.K.) on a limited recourse basis for the sole purpose of … Read more
Fitch Ratings has affirmed Ukraine’s PJSC CB PrivatBank’s (PB) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘B-‘. The Outlooks are Stable. According to a press release of Fitch, simultaneously, Fitch has affirmed the bank’s ‘b-‘ Viability Rating (VR) and upgraded the National Long-Term Rating to ‘AA(ukr)’ from ‘AA-(ukr)’. “PB’s Long-Term IDRs are aligned … Read more
Fitch Ratings has affirmed Ukraine’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B-‘ with a Stable Outlook. Fitch said that Ukraine’s ratings balance weak external liquidity, high external financing needs driven by sovereign external debt repayments and structural weaknesses, in terms of a weak banking sector, institutional constraints and geopolitical and political risks, against improved … Read more
Fitch Ratings has affirmed Ukrainian commodity processor Kernel Holding S.A.’s Long-Term Issuer Default Rating (IDR) at ‘B+’ with stable outlook, according to a posting on the rating agency’s website. “The ratings incorporate a leverage spike and weak operating results expected for financial year ended June 2018 due to a challenging operating environment. However, we also … Read more
Fitch Ratings has affirmed the Ukrainian City of Kyiv’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘B-‘, Fitch Ratings said in a press release on September 21. Simultaneously Fitch has upgraded Kyiv’s National Long-Term Rating to ‘A(ukr)’ from ‘A-(ukr)’. The Outlooks are Stable. Fitch said that the upgrade of the National Rating reflects … Read more
Fitch Ratings has affirmed the ratings of JSC State Savings Bank of Ukraine (Oschadbank) and JSC The State Export-Import Bank of Ukraine (Ukreximbank), including their ‘B-‘ Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) with Stable Outlook, Fitch has said in its press release. “The affirmation of the ratings reflects limited changes to these … Read more
Fitch Ratings has has affirmed five Ukrainian foreign-owned banks’ Long-Term Foreign-Currency Issuer Default Ratings (IDRs) at ‘B-‘ with Stable Outlooks. The banks are: PJSC Credit Agricole Bank (CAB); ProCredit Bank (Ukraine) (PCBU); PJSCCB PRAVEX-BANK (PXB); PJSC Alfa-Bank (AB); and Ukrsotsbank (USB). Simultaneously, Fitch has withdrawn all of USB’s ratings for commercial reasons. “The affirmation of … Read more
Fitch Ratings has upgraded the State Export-Import Bank of Ukraine’s (Ukreximbank) $125 million 2023 subordinated loan participation notes (LPNs) issued by Biz Finance Plc to ‘CCC’ from ‘CC’ and removed them from Rating Watch Positive (RWP), Fitch has reported in its press release. According to the document, the upgrade follows the publication of new Fitch’s … Read more
The Fitch international rating agency has noted improvement in the solvency of Ukrainian banks, while noting that some financial institutions need additional capitalization, according to a press release from the rating agency. “At the end of Q1, 2018, most of the largest 25 banks (together representing over 90% of sector assets) were compliant with the … Read more
Fitch Ratings has affirmed Ukraine’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B-‘. The Outlook is Stable, Fitch has said in a press release. In addition, Long-Term Foreign-Currency IDR affirmed at ‘B-‘; Outlook Stable; Long-Term Local-Currency IDR affirmed at ‘B-‘; Outlook Stable; Short-term foreign-currency IDR affirmed at ‘B’; and Short-term local-currency IDR affirmed at ‘B’. … Read more