Fitch affirms three Ukrainian foreign-owned banks
2012-07-20 15:54:46
Fitch Ratings has affirmed the Long-term foreign currency Issuer Default Ratings (IDRs) of PJSC UkrSibbank, Ukrsotsbank and PJSC VTB Bank (Ukraine) at 'B' with Stable Outlooks, and their Viability Ratings at 'ccc,' the rating agency's press service has reported.
"The three banks' IDRs, Support and National Ratings are driven by the likelihood of support they may receive from their majority shareholders," reads the report.
Fitch also said that the banks' Long-term IDRs could be upgraded or downgraded if Ukraine's sovereign ratings and Country Ceiling were upgraded or downgraded.
In addition, for each bank, Fitch will take into account the propensity of the shareholders to continue operations in Ukraine, which could affect the probability of support that is factored into the ratings.