Moody's withdraws ratings of Bank Khreschatyk (Ukraine)

Moscow, February 01, 2010 -- Moody's Investors Service has today withdrawn all ratings of Bank Khreschatyk (Khreschatyk) as follows: bank financial strength rating (BFSR) of E+, the long-term and short-term local currency deposit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 Moody's has withdrawn these ratings for business reasons following the official request from Khreschatyk.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.

• Full name
  Public joint-stock company Commercial Bank "Khreschatyk"
• Industry
  Banks