OREANDA-NEWS. On 24 December 2008 Credit-Rating, a nationally recognized credit rating agency in Ukraine announced that it upgraded to uaBBB- (provisional) (uaBBB minus) from uaBB+ (uaBB plus) the long-term credit rating assigned to Kiev-based Integral JSCB (`bank`). The bank was rated on June 27, 2007. To revise the rating Credit-Rating considered Bank`s financial statements for 2007 and 9M2008 and its other inside information.

An obligor or a debt liability with uaBBB credit rating is characterized with the SUFFICIENT creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is affected by adverse changes in commercial, financial and economic conditions. A plus "+" and a minus "-" signs indicate intermediary categories compared to the standard categories (grades).

Factors maintaining the credit rating

Bank`s adequate liquidity under declining liquidity of the banking system.

Bank`s sufficient openness and transparency.

The Bank may get necessary backing from its shareholders in case of need; the Bank is expected to increase its equity.

Factors constraining the credit rating

Bank`s tendency to large credit risk coupled with large share of NPLs in its loan portfolio.

High concentrations of Bank`s resources on principal creditors, which make the Bank dependant upon a financial state of a small number of its customers and raise the liquidity risks.

The growth rates of Bank`s assets are in excess of those of its equity, which may negatively affect Bank`s liquidity and capitalization under rising credit and market risks.

Strengthening impact of external factors on the financial market and decreased business activity in the country, which negatively affect solvency of Bank`s customers and weighs on value and liquidity of securitization on the loans granted.