Moody’s cuts financial stability ratings on 5 banks

Moody’s Investors Service said yesterday that it dropped the financial stability ratings on five Ukrainian banks one level: Ukrsibbank, OTP Bank, Raiffeisen Bank Aval, and Ukrsotsbank from ‘D’ to ‘D-’ with negative outlooks, and VAB Bank from ‘E+’ to ‘E’ with a stable outlook. Moody’s affirmed the local and foreign currency deposit ratings of the four former banks, while it lowered VAB Bank’s ratings from ‘B2’ to ‘Caa1.’