Fitch: Outlook negative for Ukreximbank, Oschadbank

Fitch Ratings said it affirmed the ratings of JSC State Export-Import Bank of Ukraine (Ukreximbank) and JSC State Savings Bank of Ukraine (Oschadbank), including their B long-term issuer default ratings, AA-(ukr) national long-term ratings and Ukreximbank's B/RR4 senior unsecured debt and CCC/RR6 subordinated debt ratings.

The outlook is negative.

The agency said Ukreximbank's and Oschadbank's issuer default ratings are underpinned by potential support from the Ukrainian authorities, in case of need, based on the banks' state ownership and their policy roles. The ratings also take into consideration the ability of the Ukrainian authorities to provide support, as indicated by the sovereign's B long-term issuer default rating.

The negative outlook reflects the outlook on the sovereign's long-term issuer default rating, Fitch said.

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