Moody's cuts OTP Bank Ukraine

Moody's Investors Service said it downgraded the Ba1 long-term local deposit rating of OTP Bank (Ukraine) to Ba2 and simultaneously placed it on review for downgrade.

The D- Bank's financial strength rating, the B3 long-term foreign currency deposit rating, Not-Prime short-term local and foreign currency deposit ratings remained unchanged along with a stable outlook, Aa1.ua national scale deposit rating remained unchanged as well but carries no specific outlook.

According to Moody's, the downgrade and review for possible downgrade on the local currency deposit rating follows Moody's recent announcement that it lowered OTP Ukraine's parent, OTP Bank (Hungary).

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