Fitch confirms the ratings of Ukrainian state banks.

The rating agency Fitch Ratings confirmed the long-term issuer default ratings of seven Ukrainian banks in foreign and national currency at the level of CCC- and CCC, respectively, the agency said. These banks are: Oschadbank, Ukreximbank, PrivatBank, Ukrgazbank, PUMB, Alfa-Bank Ukraine, and ProCredit Bank.  At the same time, Fitch lowered the stability rating of PrivatBank to CCC- from CCC and six other banks to CC from ССС. Thus, the agency decided to show increased sovereign and operational environment risks for the creditworthiness of individual banks. Fitch adjusted the banks’ ratings against the background of raising the country’s sovereign rating to “CC” last week. Fitch noted that banks’ foreign currency liquidity is “tight but generally adequate” compared to their needs.