Moody’s has upgraded state-owned Ukreximbank's long-term LC deposit and FC senior unsecured debt ratings to Caa1 with a stable outlook from Caa2 (positive outlook), the bank's FC deposit rating to Caa2 with a stable outlook from Caa3 (positive outlook), FC subordinated debt rating to Caa2 from Caa3 and the bank's BCA to caa1 from caa2. Today’s rating actions taken by Moody’s on Ukreximbank is driven by the upgrade of the sovereign rating.

The rating actions were driven by (1) high inter-linkages between the sovereign creditworthiness and standalone credit fundamentals of the government owned bank, (2) improvement in bank’s standalone credit profile, and (3) Moody's expectations that the bank's creditworthiness will gradually improve, driven by improving asset quality and profitability.

The stable outlooks on the long-term ratings of Ukreximbank reflect the stable outlook on the sovereign rating and Moody's expectations for a steady performance of Ukrainian banks over the next 12-18 months.

The full list of Ukreximbank’s ratings upgraded by Moody’s please see on the bank website: https://www.eximb.com/eng/