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Fitch improves Privatbank’s rating to ‘B’

Fitch improves Privatbank’s rating to ‘B’

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.

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