Moody’s Investors Service (“Moody’s”) announced today the JSC Ukreximbank baseline credit assessments (BCAs) upgraded to “b3” from “caa1”.
According to Moody’s conclusions, this rating action is driven by Moody's recent improvements of the Ukrainian banking system's Macro Profile in combination with the latest improvements in the Ukreximbank's asset quality, due to its share of problem loans decrease, bank’s profitability reached for the period January-September 2021, strengthening of the bank’s capital buffer and funding mix.
Concurrently, the rating agency upgraded Ukreximbank’s Adjusted BCA to “b3” from “caa1’, its Counterparty Risk Assessment (CR Assessment) to “B2”(cr) from “B3”(cr) and its Counterparty Risk Ratings (CRRs) to “B2” from “B3”. All the other global scale ratings and assessments of JSC Ukreximbank, as stated in Moody’s press release, were affirmed as well as the outlooks on long-term local deposit ratings and senior unsecured debt rating were remained stable.
Current ratings from Moody’s can be found at the following link: https://www.eximb.com/eng/menu/investor-relations.html