Moody’s upgrades Finance & Credit Bank to Caa1
2 March 2010
Moody’s Investors Service said yesterday in a release that it upgraded the ratings of Finance & Credit Bank: long-term global local and foreign currency deposit ratings and foreign currency deposit ratings from ‘Caa2’ to ‘Caa1’, and its national scale rating from ‘B3.ua’ to ‘Ba2.ua’. The bank’s bank financial strength rating was affirmed at ‘E.’ All of the bank’s ratings have a stable outlook. Moody’s said the action concluded a review initiated in March 2009 and took into account completion of the bank’s USD 100 mln Eurobonds restructuring, prolongation of NBU refinancing and USD 50 mln capital infusion.
