Fitch Rates Pravex Bank B-, Stable Outlook

Fitch Ratings assigned Pravex Bank, Ukraine’s 22nd bank in terms of assets, a long-term issuer default rating B- and a short-term issuer default rating of B, support 5 and support floor of ‘no floor’ – all with a stable outlook. The ratings reflect the bank’s profitability, and insignificant share of related-party transactions on its balance sheet, as well as high credit and operational risks due to loan expansion, high-risk lending and weak capitalization.