Fitch rates Oschadbank bonds AA(ukr)

Fitch Ratings said it assigned JSC State Savings Bank of Ukraine's (Oschadbank) UAH200 million series B bonds a final AA(ukr) rating. The bonds pay a 10 ½% coupon and mature Feb. 7, 2013 with a put option on Aug. 12, 2010.

The bank has a long-term issuer default rating of BB- with positive outlook, short-term issuer default rating B, individual rating of D, support rating of 3 and national long-term rating of AA(ukr) with stable outlook.

The bank's obligations under the issues rank at least equally with all its other unsecured and unsubordinated creditors, save those preferred by relevant law.

Oschadbank was the eighth-largest Ukrainian bank by assets at the end of 2007. It is the successor of the Ukrainian branch of the former Soviet Union savings bank and has the largest branch network in the country with over 6,000 outlets, Fitch said.

© 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.