Fitch has affirmed ratings of PSC Prominvestbank

25 June 2015 00:50

Fitch Ratings has affirmed at ‘CCC’ the Long-term foreign-currency Issuer Default Ratings (IDRs). Long-term local currency IDR and Short-term foreign currency IDR are affirmed at the present levels.

Fitch Ratings has affirmed at ‘CCC’ the Long-term foreign-currency Issuer Default Ratings (IDRs). Long-term local currency IDR and Short-term foreign currency IDR are affirmed at the present levels. Furthermore, the Viability Rating is affirmed at the level ‘CCC’ and National Long-term Rating is affirmed at the level 'AAA(ukr)'; Outlook Stable.

The ratings reflect the shareholder’s support for PSC Prominvestbank, loss absorption capacity and NPLs well-covered by reserves. It is also mentioned by Fitch a sufficient level of Liquidity buffers.

“The affirmation of PSC Prominvestbank’s ratings by the reputable rating agency proves the Bank’s stability factored in timely (subject to current economic situation) and all-around shareholder support as well. The decision adopted about the significant increase in PSC Prominvestbank equity capital for the amount of UAH 9,2 billion will allow Bank to strengthen the leading market positions and look forward even more confidently” – said Vyacheslav Yutkin, the First Deputy Chairman of the Board.