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Moody's withdraws ratings of Bank Khreschatyk (Ukraine)

February 1, 2010 Moody's Investors Service
Moscow, February 01, 2010 -- Moody's Investors Service has today withdrawn
all ratings of Bank Khreschatyk (Khreschatyk) as follows: bank financial
strength rating (BFSR) of E+, the long-term and short-term local currency
deposit ratings of B2/Not Prime, the long-term and short-term foreign
currency deposit ratings of B3/Not Prime, and national scale rating (NSR) of
A3.ua. The long-term local and foreign currency deposit ratings carried a
negative outlook while the bank financial strength rating carried a stable
outlook.

Moody's has withdrawn these ratings for business reasons following the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

As of the date of the ratings withdrawal, Khreschatyk had no outstanding
debt rated by Moody's.

Moody's previous rating action on Khreschatyk was on 12 May 2009 when the
rating agency downgraded the global foreign currency deposit rating to B3
with negative outlook, from B2, following the downgrade of Ukraine's foreign
currency bank deposit ceiling to B3 with negative outlook, from B2.

The principal methodologies used in rating Khreschatyk are "Bank Financial
Strength Ratings: Global Methodology", and "Incorporation of Joint-Default
Analysis into Moody's Bank Ratings: A Refined Methodology", which are
available on www.moodys.com in the Rating Methodologies sub-directory under
the Research & Ratings tab. Other methodologies and factors that may have
been considered in the process of rating this bank can also be found in the
Rating Methodologies sub-directory on Moody's website.

Headquartered in Kiev, Ukraine, Khreschatyk reported total assets (under
Ukrainian Accounting Standards) of US$751 million as of 30 September 2009.
Company — Khreschatyk Bank
  • Full name
    Public joint-stock company Commercial Bank "Khreschatyk"
  • Industry
    Banks