Fitch Assigns JSC VTB Bank (Ukraine)’s Hryvna-denominated Bonds Final ‘AAA(ukr)’
October 23, 2008
Fitch Ratings-Moscow/London-23 October 2008: Fitch Ratings today assigned JSC VTB Bank (Ukraine)’s (VTBU) two series (A and B, each for UAH250m) senior unsecured bonds due November 2009 and January 2011, respectively, final National Long-term ratings of 'AAA'(ukr)’.
VTBU’s ratings are Long-term foreign currency Issuer Default (IDR) ‘B+', Long-term local currency IDR 'BB-'(BB minus), Short-term foreign currency IDR 'B', Individual 'D/E', Support '4' and National Long-term 'AAA'(ukr)’. Both Long-term IDRs have Negative Outlooks. The National rating has a Stable Outlook.
Further details on the structure of the issue can be found in Fitch's announcement dated 26 September 2008 on the agency’s subscriber site, www.fitchresearch.com.
VTBU is a medium-sized Ukrainian bank, ranked 12th by assets in the country at end-H108, according to the National Bank of Ukraine. More than 99.8% of VTBU is owned by JSC Bank VTB (‘BBB+’/Stable).
Company — VTB Bank Ukraine
Full namePublic Joint-Stock Company "VTB Bank"