S&P: PrivatBank on watch

Standard & Poor's said it placed its B-/C long- and short-term counterparty credit and certificate of deposit ratings on PrivatBank on CreditWatch negative.

At the same time, the B- rating on the loan participation notes issued by Credit Suisse First Boston International for the purpose of financing a loan to PrivatBank were also placed on CreditWatch negative.

S&P said the CreditWatch action reflects the political turmoil in the Republic of Ukraine (B+/stable/B) and the current and potential future deterioration of liquidity in the Ukrainian banking system.

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