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Moody's withdraws ratings of Imexbank (Ukraine)

June 09, 2009 | "Moody’s"

No outstanding debt rated by Moody's

Moscow, June 09, 2009 -- Moody's Investors Service has today withdrawn the
following ratings of Imexbank:

- Bank's Financial Strength Rating (BFSR) of E (Stable outlook);

- Long-term and short-term local and foreign currency deposit ratings of
Caa2/Not Prime (Stable outlook);

- Long-term National Scale deposit ratings of B3.ua.

Moody's has withdrawn these ratings for business reasons following the
official request from Imexbank. Please refer to Moody's Withdrawal Policy on

Moody's notes that, as of the date of the ratings withdrawal, Imexbank
had no outstanding debts rated by Moody's.

Moody's previous rating action on Imexbank was implemented on 2 June 2009
when Moody's downgraded the bank's long-term local and foreign currency
deposit ratings to Caa2 from B3. In addition, Imexbank's bank financial
strength rating (BFSR) was downgraded to E from E+ and its National Scale
Rating (NSR) to B3.ua from Baa3.ua. As of the date of the ratings
withdrawal, all ratings carried a stable outlook.

The principal methodologies used in rating Imexbank are "Bank Financial
Strength Ratings: Global Methodology" and "Incorporation of
Joint-Default Analysis into Moody's Bank Ratings: A Refined Methodology",
which can be found at www.moodys.com in the Credit Policy & Methodologies
directory, in the Ratings Methodologies subdirectory. Other methodologies
and factors that may have been considered in the rating process can also
be found in the Credit Policy & Methodologies directory.

Headquartered in Odessa, Ukraine, Imexbank reported unaudited total
assets of UAH6.2 billion (US$805 billion) and net profit of UAH62 million
(US$8 million) as at 31 December 2008 in accordance with Ukrainian
Accounting Standards.

Company: Imeksbank

Full company namePublic Joint-stock commercial bank "Imeksbank"
Country of riskUkraine


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