OREANDA-NEWS. On August 13, 2008 Fitch Ratings has upgraded First Ukrainian International Bank's (FUIB) National Long-term rating to 'A(ukr)' from 'A-(ukr)', reported the press-centre of Megabank.

Fitch Ratings also affirmed FUIB's other ratings: Long-term Issuer Default (IDR) 'B', Short-term IDR 'B', Individual 'D', Support '5', and Support Rating Floor 'No Floor'. The Outlooks for the Long-term IDR and National rating remain Stable.

Fitch has also assigned FUIB's UAH300m Series B notes with three-year maturity a final National Long-term 'A(ukr)'rating.

The rating upgrade reflects continued sound capitalisation, which remains one of the highest among Ukrainian banks, and low loan impairment to date. "It also considers the bank's funding diversification, limited related-party exposures and reasonable profitability. At the same time, the ratings also reflect high risks from the bank's rapid lending growth and weaknesses in the operating environment", says the agency.

In September 2007, Fitch upgraded Long-term Issuer Default rating (IDR) from B- to B.