Fitch rates Oschadbank bonds B

Fitch Ratings said it assigned JSC State Savings Bank of Ukraine's (Oschadbank) series C and D bonds expected long-term local-currency ratings of B, expected national long-term ratings of AA-(ukr) and a recovery rating of RR4.

The bank has a foreign-currency long-term issuer default rating at B, local-currency long-term issuer default rating at B, short-term issuer default rating at B and national long-term rating at AA-(ukr).

The outlook is stable.

The series C and series D bonds are expected to amount to UAH 500 million each and have maturities of two and five years, respectively.

The ratings are contingent on the receipt of final documents.

Fitch said it understands that the bank's obligations under the new issues will rank at least equally with all its other unsecured and unsubordinated creditors, except those preferred by relevant Ukrainian legislation.

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