Fitch assigns Ukreximbank Eurobonds expected ‘B-/RR4’ rating

Fitch Ratings wrote on Friday that it assigned the expected USD 500 mln 8.375% Eurobond issue of Ukreximbank a long-term rating of ‘B-’ and recovery rating of ‘RR4.’ The notes will have a maturity of five-years. Fitch rates Ukreximbank long-term issuer default rating ‘B-‘, short-term IDR ‘B’, individual rating ‘D’, support rating ‘5’, support rating floor ‘B-‘, and national long-term rating ‘AA-(ukr)’. The outlooks on both the long-term IDR and national long-term rating are stable. Ukreximbank’s planned bond issue was reported last week by local media. Ukreximbank, the state-owned export-import bank, was Ukraine’s #3 largest bank by assets, with USD 7.2 bln, according to the National Bank of Ukraine.