OREANDA-NEWS. On 9 September 2009 was announced, that Moody's rating agency downgraded the financial stability ratings of Raiffeisen Bank Aval < BAVL UZ U/R >, Ukrsotsbank < USCB UZ U/R >, Ukrsibbank and OTP Bank from D to D-. Meanwhile the other ratings of the banks in both national and foreign currencies were remained the same.

Millennium Capital sees the news to be negative, since Financial Stability D- rating means modest intristic financial strength of the bank with increased need in the outside support. Millennium Capital explains the main reason of the rating downgrade by the large foreign currency loans in the banks credit portfolios (69% and 80%, respectively for BAVL and USCB). Still, Millennium Capital expects that both banks will be supported by their parent banks, while BAVL has already announced about the charter fund increase by 22% in late 2009.

Millennium Capital is an integrated financial services provider. Established in 2000 by a group of professionals with solid background in securities and corporate finance, Millennium Capital is now one of tickets selling for its flights due to high arrearage to the creditors of the company.