OREANDA-NEWS. January 18, 2008. Credit-Rating, a nationally recognized credit rating agency in Ukraine has assigned a long-term credit rating of uaA- (uaA minus) to Kiev-based Bank Petrocommerce-Ukraine CJSC, the agency's press service reported. In the course of analysis Credit-Rating considered Bank's financial statements for 2002-2006 and 9M2007, as well as other inside information furnished by the Bank.

An obligor or a debt liability with uaA credit rating is characterized with the HIGH STRONG creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is susceptible to adverse changes in commercial, financial and economic conditions. The plus (+) or minus (-) modifier denotes rating`s relative status within major categories.

Factors maintaining the credit rating.

    * The Bank's primary owner is Russia-domiciled Bank Petrocommerce OJSC, which is a member of a number of financial and economic organizations being among 30 largest Russian banks.
    * The Bank enjoys availability of cheap resources, which empowers it to take strong market positions.
    * Bank's transparency and openness.

Factors constraining the credit rating.

    * High level of concentrations in the Bank's loan portfolio (366 per cent of the 1st tier capital account for 20 biggest borrowers) makes the Bank dependant upon its biggest customers and may negatively affect Bank`s liquidity and capitalization.
    * The specific gravity of overdue and doubtful indebtedness in the Bank's loan portfolio exceeds 5 per cent as of Oct. 1, 2007.
    * Bank's assets and liabilities are unbalanced by their redemption terms.