Ukrsotsbank Divestiture Prompts S&P Upgrade, Exclusion from Pinchuk_BGI

According to Interfax, Standard & Poor’s upgraded Ukrsotsbank’s (USCB: BUY) long-term rating from B to BB- after yesterday’s announcement that Italian UniCredit Group completed the takeover. S&P also approved Ukrsotsbank’s short-term rating at B with a negative outlook. Conclusion of the acquisition prompts the exclusion of Ukrsotsbank from our Pinchuk_BG Index, effective yesterday.