Fitch Assigns ProCredit Bank AAA(ukr) Rating.

Fitch Ratings announced that it had assigned ProCredit Bank Ukraine a National Long-term ‘AAA(ukr)’ rating with a Stable Outlook. Fitch also assigned ProCredit Ukraine’s upcoming four-year $34.6m bond issue, with a two-year put option, a National Long-term ‘AAA(ukr)’ rating. Oleksandr Klymchuk:  This is the first ever triple-A national scale rating in Ukraine.  However, due to Ukraine’s low country ceiling ProCredit’s corresponding global scale ratings are below investment grade (foreign currency Issuer Default ‘BB-‘, local currency:‘BB’). The only corporate issue with an investment grade rating is expected to be a $10m issue by Calyon Bank Ukraine (Moody’s: Baa1).