Ukreximbank: Key Facts and Statistics - H1 2021 - Moody's Global Credit Research

Ukreximbank: Key Facts and Statistics - H1 2021

Ukreximbank: Key Facts and Statistics - H1 2021 - Moody's Global Credit Research
Ukreximbank: Key Facts and Statistics - H1 2021
Published Oct 20, 2021
8 pages (3835 words) — Published Oct 20, 2021
Price US$ 200.00  |  Buy this Report Now

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Brief Excerpt:

...Note: Currency converted using exchange rate of UAH¡$0.03680, as of 30 June 2021 Sources: Company reports (consolidated financial statements June 2021 and presentation July 2021), company data, National Bank of Ukraine, Moody's Investors service...

  
Report Type:

Issuer Profile

Company:
Issuer
Ukreximbank
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Ukreximbank: Update to credit analysis - Credit Opinion – 2021/06/25 – US$ 250.00 – ...We assign local- and foreign-currency long-term deposit ratings of B3 to Ukreximbank. The ratings are based on the bank's Baseline Credit Assessment (BCA) of caa1 and incorporate a one-notch uplift based on a very high probability of government support from the Government of Ukraine (B3 stable). Ukreximbank's BCA reflects the high interlinks between the bank's standalone asset quality and the sovereign's creditworthiness, given the bank's high direct exposure to sovereign debt, its weak profitability and high reliance on market funding offset by ample liquidity....

Ukreximbank: Update following upgrade of foreign-currency deposit rating to B3, outlook remains stable - Credit Opinion – 2020/12/17 – US$ 250.00 – ...On 10 December 2020, we upgraded the long-term foreign-currency (FC) deposit rating of Ukreximbank to B3 from Caa1. The upgrade was driven by the change in the FC deposit ceiling of Ukraine (B3 stable) following the publication of our updated Country Ceilings Methodology. Ukreximbank's long-term deposit ratings incorporate a one-notch uplift based on the bank's Baseline Credit Assessment (BCA) of caa1, which reflects a very high probability of government support. The bank's FC subordinated debt rating remains at the Caa1 level, because it does not benefit from government support and is in line with the bank's BCA. Ukreximbank's BCA reflects the high interlinks between the bank's standalone asset quality and the sovereign's creditworthiness, given the bank's high direct exposure to sovereign debt, weak profitability, ample liquidity and high reliance on market funding....

Ukreximbank: Update following ratings affirmation and upgrade of BCA - Credit Opinion – 2020/10/23 – US$ 250.00 – ...On 12 October 2020, we upgraded Ukreximbank's Baseline Credit Assessment (BCA) to caa1 from caa2. The upgrade reflects our expectation that Ukreximbank's loss-absorption capacity will materially improve as a result of capital injections recently announced by the Ukrainian government. Concurrently, we upgraded its foreign-currency subordinate debt rating to Caa1 from Caa2. Ukreximbank's long-term local-currency deposit rating was affirmed at the B3 level, incorporating a one-notch uplift from the bank's BCA of caa1, which reflects a very high probability of support from the government. Ukreximbank's BCA also reflects the high interlinks between the bank's standalone asset quality and the sovereign's creditworthiness, given the bank's high direct exposure to sovereign debt, its weak profitability, ample liquidity and high reliance on market funding....

Moody's affirms Ukreximbank's long term deposit ratings, upgrades BCA to caa1 from caa2 - Rating Action – 2020/10/12 – US$ 180.00 – ...ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK. All information contained herein is obtained by MOODY'S from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, all information contained herein is provided "AS IS" without warranty of any kind. MOODY'S adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources MOODY'S considers to be reliable including, when appropriate, independent third-party sources. However, MOODY'S is not an auditor and cannot in every instance independently verify or validate information received in the rating process or in preparing its Publications. To the extent permitted by law, MOODY'S and its directors, officers,...

Ukreximbank: Update following rating action, outlook changed to stable from positive - Credit Opinion – 2020/06/19 – US$ 250.00 – ...On 16 June 2020, we upgraded Ukreximbank's local-currency deposit rating to B3 from Caa1 and changed the outlook on its deposit ratings to stable from positive, following the upgrade of the Government of Ukraine's rating (B3 stable). Concurrently, we downgraded the bank's Baseline Credit Assessment (BCA) to caa2 from caa1 to reflect a significant deterioration in its capital position following large losses reported in the first quarter of 2020. Ukreximbank's B3 long-term local-currency deposit rating incorporates a two-notch uplift from the bank's BCA of caa2, given a very high probability of support from the government. Ukreximbank's BCA also reflects the high interlinks between the bank's standalone asset quality and the sovereign's creditworthiness, given the bank's high direct exposure to sovereign debt and bonds guaranteed by the state (47% of the bank's assets or 7x-8x of the bank's equity); its weak profitability and capitalisation; high level of liquid assets (over 50% of total...

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MLA:
Moody's Global Credit Research. "Ukreximbank: Key Facts and Statistics - H1 2021" Oct 20, 2021. Alacra Store. Nov 30, 2021. <http://www.alacrastore.com/moodys-credit-research/Ukreximbank-Key-Facts-and-Statistics-H1-2021-PBC_1288635>
  
APA:
Moody's Global Credit Research. (). Ukreximbank: Key Facts and Statistics - H1 2021 Oct 20, 2021. New York, NY: Alacra Store. Retrieved Nov 30, 2021 from <http://www.alacrastore.com/moodys-credit-research/Ukreximbank-Key-Facts-and-Statistics-H1-2021-PBC_1288635>
  
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