Fitch revises nine Ukrainian banks' outlooks to “Stable”; NEUTRAL
The global rating agency Fitch Ratings has revised its outlook on nine Ukrainian banks from “Positive” to “Stable.” Since the rating of any company cannot be higher than that of its base country, Fitch downgraded the banks’ ratings after lowering Ukraine’s rating “Positive” to “Stable.” In the list of nine banks, there are two covered by us: Ukrsotsbank and Bank Forum.
We think that the revised ratings could potentially have a slightly negative impact on all banks traded in Ukraine, but they will not strongly affect banks with foreign capital like Bank Forum, Ukrsotsbank and Raiffeisen Bank Aval, as their strategic investors will give them the necessary support. We view the news as NEUTRAL.
Andrey Zaripov Analyst (+380 44) 490-1614
