Moody's: VAB Bank outlook positive

Moody's Investors Service said it changed to positive from stable the outlook for VAB Bank's foreign-currency senior unsecured debt rating of Caa1 and upgraded the national scale rating to Ba1.ua from Ba2.ua.

The action reflects VAB's capitalization, shareholders' commitment to inject a further UAH 550 million of tier 1 capital by year-end 2010 and an adequate level of loan-loss provisions, according to the agency.

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