Fitch upgrades FUIB to A(ukr)

Fitch Ratings announced yesterday it upgraded First Ukrainian International Bank’s (FUIB) national long-term rating to A(ukr) from A-(ukr). Fitch affirmed FUIB’s other ratings at long-term issuer default (IDR) B, short-term IDR B, individual D, support 5, and support rating floor no floor. The outlooks for the long-term IDR and national rating remain stable. Fitch has also affirmed the ratings of Standard Bank PLC’s USD 275 mln 9.75% limited recourse loan participation notes due in February 2010 at Recovery RR4 and Long-term B. The notes were issued solely to finance a loan to FUIB. Fitch has also assigned FUIB’s UAH 300 mln Series B notes with a three-year maturity a final national long-term A(ukr) rating.