Fitch ups three Ukraine banks

Fitch Ratings said it upgraded Industrialbank's long-term issuer default rating to B- from CCC.

The outlook is stable.

The agency also said it changed the outlook on Bank Khreschatyk and Pivdennyi Bank to stable from negative and affirmed their long-term issuer default ratings at B-.

The actions reflect the stabilization of the economic environment in Ukraine, reflected in positive growth, lower volatility and a less vulnerable fiscal position following the government's agreement on a new loan program with the International Monetary Fund, Fitch said.

These developments have contributed to a somewhat less difficult operating backdrop for the country's banks, the agency said.

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