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Fitch Affirms Ukreximbank Ratings and Upgrades Viability Rating

Fitch Ratings has affirmed the Long-Term Foreign Currency Issuer Default Rating (IDR) of Joint Stock Company The State Export-Import Bank of Ukraine (JSC Ukreximbank) at 'B-' with Stable Outlook. Fitch has also upgraded the bank’s Viability Rating (VR) to 'b-' from 'ccc', which means that the bank’s IDR is now underpinned by its standalone strength.

According to Fitch, the VR upgrade reflects the bank’s strengthened capitalisation following capital injection in 1Q17 and reduced asset quality pressure. The VR is also supported by reasonable coverage of NPLs by specific reserves, the bank’s moderate risk appetite since Ukraine's downturn in 2014, manageable refinancing risks and solid liquidity cushion.

Ukreximbank current credit ratings are available at