Moody's may upgrade Pravex-Bank

Moody's Investors Service said it placed Pravex-Bank's B2 long-term global local-currency deposit rating, A3.ua national scale rating and B2 long-term local-currency debt rating on review for possible upgrade and assigned a positive outlook to the bank's B2 long-term foreign-currency deposit rating.

The review was prompted by the recent announcement that Intesa Sanpaolo (B-/Aa2/Prime-1) has signed a share purchase agreement to acquire 100% of the share capital of Pravex-Bank. The agency said any support from Intesa Sanpoalo is likely to have a positive impact on the local-currency deposit and debt ratings of Pravex-Bank.

Pravex-Bank's foreign-currency deposit rating is not on review because it would be constrained by the country ceiling for Ukraine, which is currently at B2 with a positive outlook.

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