S&P revises PrivatBank to negative

Standard & Poor's said it revised its outlook on PrivatBank to negative from stable and affirmed its CCC/C long- and short-term counterparty credit ratings.

S&P said the outlook was revised because its outlook on Ukraine is negative.

The agency affirmed its ratings on PrivatBank because it thinks that the bank's creditworthiness is sufficient to withstand a foreign currency sovereign default, based on the results of simulated liquidity and capital stress tests.

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