Moody’s changes outlook on Ukraine to stable

Moody’s Investors Service announced yesterday it changed the outlook on Ukraine’s key ratings to stable from positive, on the combined impact of the global liquidity crunch, and existing macroeconomic, financial and political challenges. The agency also lowered the country’s local currency deposit ceiling to Ba1 from Baa1. Moody’s also downgraded the global local currency (GLC) deposit ratings and the National Scale Ratings (NSRs) of 12 Ukrainian banks: Bank Nadra (NADR: N/R), Calyon Bank Ukraine, Index-Bank, ING Bank Ukraine, OTP Bank Ukraine, Pivdenny Bank, PrivatBank, Raiffeisen Bank Aval, Oschadbank, Ukreximbank, UkrSibbank, Ukrsotsbank (USCB: BUY). Moody’s also changed the outlook to stable from positive on the B2 long-term global foreign currency (GFC) deposit ratings of 21 Ukrainian banks.