News of the Bank

Fitch assigned PRAVEX-BANK “В— ” rating, “Stable” forecast

A few days ago Fitch Ratings assigned ratings to PRAVEX-BANK, Ukraine: long-term rating of default issuer ("IDR") "B-" (B minus), "Stable" forecast, short-term IDR "B", individual rating  "D/E", support rating "5", IDR long-term support level "no support level" and national long-term rating "BBB(ukr)", "Stable" forecast.

"This rating — is the second confirmation of PRAVEX-BANK stability by rating agency. This rating also takes into account the scale of PRAVEX-BANK consumer base. Moreover, the rating takes into account acceptable levels of credit portfolio concentration, high profitability indexes and moderate risks connected with big growth of crediting bulk", — notes Natalia ZUBRITSKAYA, Chairwoman of the Board of PRAVEX-BANK.

Rating agency Fitch applies conservative approach while taking a decision about rating assignment. That is why its credit opinions about banks in significant extent are taken into account by investors when taking a decision about bargains conclusion with the banks of European developing countries.

Ratings assignment to JSCB "PRAVEX-BANK" by the second rating agency Fitch (we would like to remind that since 2003 the Bank cooperates actively with Moody's rating agency, the last ratings renewal was 29 May 2007) gives a possibility to JSCB "PRAVEX-BANK" to increase considerably the level of its reliability and stability among depositors, investors and partners. Availability of ratings of two rating agencies increases attractiveness of JSCB "PRAVEX-BANK" for investors when positioning the Bank in national and international capital market.

When taking a decision by foreign counteragents about cooperation with the Bank especially long-term rating of issuer default ("IDR") is taken into account. JSCB "PRAVEX-BANK" has the level «В-», that corresponds to ratings of biggest Ukrainian banks without participation of foreign capital.

"Success of bonds emission in national currency of the Bank to great extent depends on national long-term rating. JSCB "PRAVEX-BANK" has the level «BBB(ukr)», that places it at a higher rank in comparison with other Ukrainian banks having lower ratings on national scale of Fitch rating agency", — summarized Mrs. ZUBRITSKAYA. 

Note: For today JSCB "PRAVEX-BANK" has the following ratings from Moody's rating agency:

— rating of long-term deposits in national currency: В2;

— rating of long-term deposits in foreign currency: В2;

— rating of financial stability: Е+;

— rating of long-term deposits in national currency according to national scale: А3.ua.