S&P upgrades Alfa-Bank Ukraine

Standard & Poor's said it raised the long-term counterparty and Ukraine national scale ratings on Alfa-Bank Ukraine to B-/uaBBB- from CCC+/uaBB.

The agency also said it affirmed the C short-term counterparty credit rating.

The outlook is stable.

The upgrade reflects reduced pressure on the bank's financial and business profile amid the gradually stabilizing operating environment in Ukraine, S&P said.

The bank has improved its funding and liquidity profile with the inflow of retail deposits, while single-name concentrations on both sides of the balance sheet have reduced, the agency said.

The ratings reflect the bank's stand-alone credit profile and do not incorporate any uplift for potential extraordinary parental support, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.