Expert Rating Agency Improved Ukrgasbank’s Ratings Outlook to Positive

Expert Rating Agency has resolved to improve the outlook for the credit rating of Ukrgasbank and the rating of its bonds of C, D і Е series rating to positive. The rating was confirmed at uaBBB+ national scale.

According to the official release, the agency relied on the bank’s results for 1Q2012. Total assets of Ukrgasbank as of 01 April 2012 made UAH 19,407 million, loans and advances to customers — UAH 6,621 million, shareholders’ equity — UAH 2,895. Profit for the 3 months ended 30 March 2012 made UAH 94.5 million.

According to Serhii Sebeshuk, Deputy Head of the Risk Management Department, “The credit rating is one of the sources of information a potential investor needs to assess the risk of placing money with a bank. The ratings are also actively used by the insurance companies, private pension funds and asset management companies when placing provisions and purchasing securities. In particular, the Law of Ukraine ‘On Insurance’, ‘On Non-governmental Pension Security’ and ‘On Joint Investment Funds’ prescribe the use of rating agency conclusions”.

19.06.2012

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