S&P: Kredobank view to positive

Standard & Poor's said it revised its outlook on PJSC Kredobank to positive from negative and affirmed its CCC+ long-term and C short-term counterparty credit ratings.

At the same time, the agency raised its Ukraine national scale rating to uaBB- from uaB+.

S&P said the action reflects its view that Kredobank has shown better asset quality indicators and stronger financial results compared with the majority of Ukraine's banking sector. If the bank continues to outperform the sector in terms of asset quality and its new loan generation continues to be of good quality on a sustainable basis, the agency might raise its assessment of Kredobank's risk position, which would in turn prompt an upgrade of the bank.

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