23 June 2010, Wednesday
Credit-Rating rating agency has upgraded the long-term credit rating of FUIB (First Ukrainian International Bank) from uaBBB up to uaA, outlook stable.
The Bank rating was reviewed by the agency on the basis of the FUIB financial statements for 2005-2009 and the first quarter of 2010, the Bank internal information was submitted by the Bank within the framework of the rating process.
According to the rating scales applied by Credit-Rating “An obligor or a debt liability with uaA credit rating is characterized with the high creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is compliant to adverse changes in commercial, financial and economic conditions.”
A Stable outlook indicates that there are no anticipated reasons to change the rating in the course of the year.
Among the factors which are specified in the report issued by the agency as the ones substantiating the FUIB rating are: diversification of its loan book by key borrowers and types of economic activity, adequate level of capital and liquidity, quality increment of the Bank funding base, balanced assets and liabilities maturity gaps, extended branch network, card acquiring business development that ensure retention of the Bank franchise and let the Bank maintain its competitive positions.
