Moody's downgrades Savings Bank of Ukraine

Moody's Investors Service said it changed to negative from stable the outlook on the B2 long-term global local-currency deposit and the B2 long-term global local-currency debt ratings of Savings Bank of Ukraine (Oschadny Bank).

Moody's also said it downgraded the bank's long-term national scale rating to A3.ua from A2.ua.

The agency also said it affirmed Oschadny Bank's long-term global foreign-currency deposit rating of B3 and the not-prime short-term local- and foreign-currency deposit ratings.

The outlook change reflects concerns about the very high linkages between the bank's and the sovereign's financial standing, while the sovereign creditworthiness is under pressure, Moody's said.

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