OREANDA-NEWS. On 15 April 2009 Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it upgraded to uaBBB (provisional) from uaBB the long-term credit rating assigned to Kiev-based Bank for Investments and Savings LLC (`bank`) and its registered coupon bonds (series A). The amount of the issue is UAH15m, due May 30, 2010. The outlook on the rating has been changed to stable. 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 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 sufficient capitalization and high level of profit margins from its main business.

Low specific gravity of overdue debts.

Anticipated increase in bank`s authorized stock, which will underpin the bank`s financial ratios.

Factors constraining the credit rating

High concentrations in the customer loan portfolio by primary borrowers, which may negatively affect bank`s liquidity and capitalization.

High concentrations of the bank`s resource base by the principal lenders, which makes the bank dependant upon the financial state of a limited number of its customers.

Modest bank`s clientele beyond the group of the associates of the bank`s owner.

Growing impact of external factors on the financial market and downturn in business activity in certain industries, combined with high volumes of loans granted in foreign currencies, which under depreciating national currency may negatively affect solvency of certain borrowers and bank`s liquidity and capitalization.