Moody's cuts 11 Ukrainian companies

Moody's Investors Service said it lowered the standalone credit assessments, and downgraded the debt and deposits ratings, as well as National Scale Ratings of 11 banks and one leasing company in Ukraine.

Negative outlooks were maintained on all affected banks' ratings.

Moody's said all the rating actions were prompted by its Dec. 5 downgrade of the Ukrainian government rating to B3 from B2 and the related adjustments to the country's ceilings, mainly: (a) foreign-currency bank deposit ceiling to Caa1 from B3; (b) local-currency bank deposit and bond ceiling to B2 from Ba1; and (c) foreign-currency bond ceiling to B3 from B1.

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