OREANDA-NEWS. On 06 April 2009 Credit-Rating, a nationally recognized credit rating agency in Ukraine announced that it upgraded to uaBB+ (uaBB plus) from uaBB the long-term credit rating assigned to Kiev-based PARTNER-BANK LLC (`bank`). To revise the rating Credit-Rating considered bank`s financial statements for 2007-2008 and its other inside information.

An obligor or a debt liability with uaBB credit rating is characterized with the LOWER THAN SUFFICIENT creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is strongly 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 sufficient capitalization necessary for its further growth.

Low specific gravity of overdue and doubtful indebtedness in bank`s customer loan portfolio.

Factors constraining the credit rating

High concentrations in the bank`s customer loan portfolio, which may have negative impact on bank`s profitability in case of problems with even insignificant share of loans.

Concentrations in the resource base among principal lenders, which stiffens bank`s financial flexibility and raises the liquidity risks.

Deteriorated structure of bank`s incomes accompanied by its poor profitability.

The bank`s risk management system requires further enhancements.

Growing impact of external factors on the financial market and decrease in business activities in certain sectors of economy coupled with large amount of loans granted in foreign currencies, which, under depreciating national currency, may negatively affect solvencies of certain borrowers and bank`s liquidity and capitalization.