Fitch downgraded the credit rating of the state “PrivatBank”

Fitch downgraded the credit rating of the state “PrivatBank”


The Cabinet nationalized financial institution late in the evening of 18 December.

International rating Agency Fitch Ratings downgraded the viability rating of the nationalized 18 “Privat” from “CCC” (possible default) to “F” (uncertainty). The reason the financial institution is in need of significant capitalization. According to the national Bank, you need to make 148 billion (6% of Ukraine’s GDP in 2017).

This is stated in the press release of Fitch Ratings. The Agency plans to review the rating, as the situation with “PrivatBank” is now very uncertain.

Recall, as of October 1, 2016, the size of assets in 271,8 billion then still private, “Privat” was ranked first among 100 Ukrainian banks.

Meanwhile, the head of national Bank Valeria Gontareva called the timing of the stabilization in the nationalized “PrivatBank”.