Fitch Downgrades Ukraine's Rodovid Bank to 'D' & Withdraws Ratings
February 13, 2009 "Fitch Ratings"
Fitch Ratings-London/Moscow-12 February 2009: Fitch Ratings has today downgraded the Long-term Issuer Default Rating (IDR) of Ukraine's Rodovid Bank (RB) to 'D' from 'CC'. (A full breakdown of rating actions is provided below.) The downgrade of the LT IDR reflects Fitch's understanding that RB is currently not servicing all of its liabilities in full in a timely manner. At the same time, the agency has withdrawn all the bank's ratings and Fitch will no longer provide rating or analytical coverage of RB.
Rating actions on Rodovid Bank are as follows:
Long-term IDR: downgraded to 'D' from 'CC'; rating withdrawn
Short-term IDR: downgraded to 'D' from 'C'; rating withdrawn
Support Rating: affirmed at '5'; rating withdrawn
Individual Rating: downgraded to 'F' from 'E'; rating withdrawn
Support Rating Floor: affirmed at 'No Floor'; rating withdrawn
National Long-term rating: downgraded to 'D(ukr)' from 'B(ukr)'; rating withdrawn
Senior unsecured debt: downgraded to 'CC(ukr)' from 'B(ukr)'; rating withdrawn
Company — Rodovid Bank
Full namePublic Joint Stock Company "Rodovid Bank"