29 July 2010
Fitch Ratings announced in a note yesterday that it upgraded Privatbank’s long-term issuer default rating from ‘B-’ to ‘B,’ with a stable outlook. The move follows the corresponding July 6 upgrade of Ukraine’s sovereign long-term IDR. Fitch also said yesterday’s change reflects stabilization in the bank’s asset quality metrics, acceptable Basel capital ratios, more comfortable liquidity position following deposit inflows, limited near-term refinancing risk and broad domestic franchise.