OREANDA-NEWS. July 12, 2010. Fitch Ratings has upgraded Ukreximbank ratings, including its Issuer Default ratings (IDR) to “B” from “B-”with a Stable Outlook, reported the press-centre of Ukreximbank.

This rating action reflects the improved ability of the Government of Ukraine, the sole Ukreximbank shareholder, to provide support to the Bank in case of need. According to Fitch, due to the Bank’s policy role the propensity to support would likely be significant. Thus Ukreximbank Support Rating has been advanced to “4” from “5”.

Ukrexim better than of the other Ukrainian banks standalone credit profile is reflected in its higher Individual rating, currently affirmed at “D”. Fitch also upgraded Ukreximbank Senior Unsecured Debt to “B” from “B-“.

The rating action followed the Agency’s recent revision of the Ukraine’s Long-term foreign and local currency IDR to “B” from “B-” with a Stable Outlook.

Ukreximbank current ratings record is available at http://www.eximb.com/eng/ratings/

For full article on Fitch rating actions please refer to Fitch web-site http://www.fitchratings.com/