Fitch lowers Ukraine Mortgage Loan Finance #1's rating

Fitch Ratings yesterday said it lowered the rating on Ukraine Mortgage Loan Finance No. 1 Plc’s senior class notes from ‘BB+’ to ‘B’ for Series A notes and ‘B’ to ‘B-‘ for Series B notes. UMLF was established by Privatbank, Ukraine’s largest bank, to provide securitization of mortgage loans. Fitch also cut the rating on Ukraine Auto Loan Finance No. 1 Plc from ‘B-‘ to ‘CCC.’