Fitch affirms Ukrsotsbank

Fitch Ratings said it affirmed Ukrsotsbank's issuer default and support ratings at B- and 5 respectively and removed them from Rating Watch positive. The other ratings are affirmed at short-term B and individual D.

The outlook is positive.

The removal of rating watch follows the recent announcement that the seller of the controlling shareholding in Ukrsots has exercised his right to terminate the share sale agreement with Italy's Intesa Sanpaolo.

The positive outlook reflects the bank's expanding franchise, retention of leading positions in key market segments and sound profitability track-record, the agency said, as well as declining loan book concentration levels.

A strengthening of the bank's capitalization and free capital, Fitch said and continued diversification of funding with a resultant improvement in liquidity could lead to an upgrade, even absent any changes in ownership.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.