Moody's: Ukraine banks affected

Following application of its joint default analysis methodology and its updated bank financial strength rating methodology to its bank ratings in France, Moody's said it published bank rating results for subsidiaries of those banks located in Ukraine.

The banks affected are subsidiaries of banks located in France. Moody's said it incorporated parental support from the parent bank, along with any other support elements, into the ratings of these banks using the new methodology.

Calyon Bank Ukraine's bank financial strength rating has been upgraded to D from D-. Based on high parental support from its parent, Calyon, and no systemic support from Ukraine or France, Moody's said it affirmed the bank's long-term local-currency deposit rating at Baa1, its senior unsecured local-currency debt ratings at Baa1, short-term local-currency deposit at prime-2, foreign-currency deposit ratings at B2/not-prime and the national scale rating at Aaa.ua.

Index-Bank's bank financial strength rating has been affirmed at E+ and the outlook on its bank financial strength rating has been changed to positive from stable. Based on high parental support from its parent, Credit Agricole SA, and no systemic support from Ukraine or France, Moody's said it downgraded the bank's long-term local-currency deposit rating to Baa3 from Baa1, along with its short-term local-currency deposit rating to prime-3 from prime-2. The foreign-currency deposit ratings have been affirmed at B2/not-prime. The national scale rating has been affirmed at Aaa.ua.

Ukrsibbank's bank financial strength rating has been upgraded to D- from E+. The outlook on the bank financial strength rating has been changed to positive from stable. Based on high parental support from its parent, BNP Paribas, no systemic support from France and high systemic support from Ukraine, Moody's said it downgraded the bank's long-term local-currency deposit rating to Baa2 from Baa1. The short-term local-currency deposit rating has been affirmed at prime-2. The national scale rating has been affirmed at Aaa.ua, foreign-currency deposit ratings have been affirmed at B2/not-prime with positive outlook. The ratings on its senior unsecured obligations have been affirmed at Ba2 with a positive outlook.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.