MUMBAI (Thomson Financial) - Moody's Investors Service said it has upgraded the bank financial strength rating of Ukraine-based Raiffeisen Bank Aval (RBA) to 'D' from 'D-' with a stable outlook.
Moody's said the rating reflects the significant and ongoing improvements in RBA's risk management processes to levels commensurate with its ultimate parent Raiffeisen Zentralbank Oesterreich AG and is in line with its very robust franchise.
The upgrade also takes into account Moody's opinion that RBA is well positioned to further consolidate its market positions across the country against the backdrop of Ukraine's increasingly competitive environment.
Moody's said the ratings are still constrained by a difficult operating environment, the rapid pace of growth, which is associated with higher risks, and mounting competitive pressure, which may lead to a potential loosening in credit underwriting.
All other ratings were affirmed including the global local currency deposit ratings of 'Baa1' with stable outlook and the foreign currency deposit ratings of 'B2' with a positive outlook. TFN.newsdesk@thomson.com vsr/jro COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
Moody's said the rating reflects the significant and ongoing improvements in RBA's risk management processes to levels commensurate with its ultimate parent Raiffeisen Zentralbank Oesterreich AG and is in line with its very robust franchise.
The upgrade also takes into account Moody's opinion that RBA is well positioned to further consolidate its market positions across the country against the backdrop of Ukraine's increasingly competitive environment.
Moody's said the ratings are still constrained by a difficult operating environment, the rapid pace of growth, which is associated with higher risks, and mounting competitive pressure, which may lead to a potential loosening in credit underwriting.
All other ratings were affirmed including the global local currency deposit ratings of 'Baa1' with stable outlook and the foreign currency deposit ratings of 'B2' with a positive outlook. TFN.newsdesk@thomson.com vsr/jro COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2008 AFX News
