Fitch rates Pravex Bank bond BBB(ukr)

Fitch Ratings said it assigned Pravex Bank's upcoming issue of UAH 250 million series D bonds with three-year maturity, and one- and two-year put options, an expected rating of national long-term BBB(ukr) and Rating Watch positive.

Pravex has a long-term foreign-currency issuer default rating at B-, short-term foreign-currency issuer default rating at B, individual rating at D/E, support rating at 5, national long-term rating at BBB(ukr) and sovereign support no floor.

The long-term foreign-currency issuer default rating, support and national long-term ratings are on Rating Watch positive, reflecting the pending acquisition of a 100% stake in Pravex by Intesa Sanpoalo and the greater probability of support.

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