Moody’s Bumps Up Ukrsotsbank’s Ratings to Baa2/Prime-2
31 January 2008
Moody’s upgraded Ukrsotsbank’s (USCB: BUY) loan and deposit rating to Baa2/Prime-2 and its long-term foreign currency liability rating to Ba2, constrained by the sovereign ceiling. Moody’s also moved Ukrsotsbank up to Aaa.ua on the national rating scale. This news is the latest in a round of upgrades for the bank, following conclusion of the acquisition of a 94.2% stake by Italian UniCredit Group: both Fitch and S&P raised Ukrsotsbank’s long-term issuer default ratings two notches earlier this week to BB- with positive outlooks.
