Fitch affirms Privatbank

Fitch Ratings said it affirmed CJSC Privatbank ratings at long-term B, short-term B, individual D and support 4. The outlook on the long-term rating remains positive.

Privat's long-term, short-term and support ratings reflect Fitch's view of the strong propensity of the Ukrainian authorities to provide support for the bank in case of need, based on Privat's size and importance to the banking sector.

However, Fitch said it notes that the ratings also factor in the probable limited ability of the authorities to provide support if required, as reflected in the BB- long-term sovereign rating.

The agency added the individual rating reflects Privat's weak core profitability and capitalization, relatively high loan concentrations and weaknesses in the operating environment.

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