Moody's rates Index-Bank

Moody's Investors Service said it assigned B2/Not-Prime long- and short-term global local currency deposit ratings to Ukraine's Index-Bank.

The bank's E+ financial strength rating as well as its long-term and short-term foreign currency deposit ratings of B2 / Not Prime are affirmed, Moody's said it said it said.

Simultaneously, the rating agency said it placed the bank's B2/Not-Prime global local currency ratings on review for possible upgrade, prompted by the recent announcement that Credit Agricole SA (Aa2 long-term issuer rating) will acquire a 99% stake in the Ukrainian bank.

According to Moody's, the review reflects an increased likelihood of support from the financially sound and experienced new controlling shareholder.

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