Fitch Ratings has revised the ratings for ProCredit Bank

Fitch Ratings, the international rating agency, affirmed the long-term issuer default ratings for foreign currency at ProCredit Bank at B- with a stable outlook. The agency also upgraded ProCredit Bank’s viability ratings to “b-” from “ccc”. This was reported by the press service of the agency.

As stated in the agency’s press release dated 9 June 2017, the decision was based on an assessment of the probability of the bank receiving support from the majority shareholder, which is ProCredit Holding, a joint-stock company whose shares are owned by investors from both the public and the private sectors. ProCredit Holding has an investment grade rating of “BBB” with a stable outlook from Fitch Ratings.

ProCredit Bank in Ukraine continues to closely cooperate with Fitch Ratings and provides a high level of transparency.

Name Rating Outlook National long-term rating AAA(ukr) Stable Long-term foreign currency IDR B- Stable Long-term local currency IDR B Stable Short-term foreign currency IDR B — Short-term local currency IDR B — Support rating 5 — Viability rating b- — Fitch Affirms 5 Ukrainian Foreign-owned Banks pdf, 2.7 MB