S&P downgraded the rating of PrivatBank

S&P понизило рейтинг ПриватБанка

Standard & Poor’s Global Ratings lowered the long-term and short-term credit ratings of PrivatBank

Rating downgraded due to the intervention of the regulator.

International rating Agency Standard & Poor’s Global Ratings lowered the long-term and short-term credit ratings of PrivatBank. Rating lowered to “R/R” (under the supervision of the regulatory body) with “B” and “C” respectively, the report said the Agency on Wednesday, December 21.

The downgrade reflects the regulatory risk associated with the decision of the National Bank of Ukraine to carry PrivatBank insolvent, the nationalization of the Bank, as well as the possible establishment of a moratorium on certain loan obligations of financial institutions.

After all these decisions, analysts explain, the risk of a possible introduction of the government moratorium on the repayment of certain loan obligations PrivatBank became quite large.

Earlier, the international rating Agency Fitch downgraded the viability rating of PrivatBank from “CCC” to “F” and placed long-term ratings to the list for review.

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