On 24rd of September, 2019 international rating agency Fitch Ratings upgraded joint stock company “The State Export-Import Bank of Ukraine” (Ukreximbank) Long-Term Foreign- and Local-Currency (IDRs) to ‘B’ from 'B-'; Outlook revised to Positive from Stable and improved Support Rating to ‘4’ from '5'.
National Long-Term Rating is affirmed at 'AA(ukr)'; Outlook is Stable and Short-Term Foreign-Currency IDR - at 'B' level.
Fitch has also placed the Viability Rating (VR) on Rating Watch Positive (RWP) and is planning to resolve RWP during the next six months.
Replacing of VR to RWP reflects Fitch’s expectations on the improving macroeconomic stability in Ukraine, the country’s reasonable economic prospects and further stabilisation in the sovereign’s credit profile which should have positive implications for the bank’s standalone credit profile. Fitch Ratings will also supervise on the operating environment in Ukraine which has an impact on recovering performance of the banking sector, improving solvency levels and reducing refinancing risks.
Long-Term Foreign- and Local-Currency IDRs: upgraded to ‘B’ from 'B-'; Outlook revised to Positive from Stable
Short-Term Foreign-Currency IDR: affirmed at 'B'
Support Rating: upgraded to ‘4’ from '5'
Viability Rating: 'b-', placed on RWP
National Long-Term Rating: affirmed at 'AA(ukr)'; Outlook Stable
