Fitch confirmed B- ratings of state owned Ukreximbank and Oschadbank concerning long term issuer default ratings in foreign currency. The outlook remains positive. Fitch also upgraded the Viability Rating from CCC to B- which means that the banks’ default rating is now supported by the financial institutions themselves.The confirmation of the sustainability ratings reflect a sufficient capitalization of banks after injections by state in Q1/2017. Also, problem loans received sufficient coverage. To note, Fitch’s group B ratings mean that there are certain credit risks with a limited margin of safety.
German state bank KfW to provide Ukraine with another EUR50 mln grant for refinancing 5-7-9 loan program
National Bank of Ukraine cuts key policy rate from 8% to 6%
