OREANDA-NEWS. October 19, 2010. Moody’s Investors Service changed to positive from stable the outlook for VAB Bank’s financial strength rating of E, long-term foreign and local-currency Bank deposit ratings of Caa1 and foreign-currency senior unsecured debt rating of Caa1, reported the press-centre of VAB Bank.

The National Scale Rating was upgraded to Ba1.ua from Ba2.ua.

Moody’s commented that its action reflected VAB Bank’s capitalization well in excess of minimum regulatory levels (CAR of 14.4% as of 1H2010); further share capital injection of UAH550 million (about USD70 million) expected by the year-end 2010; and adequate level of loan-loss provisions (17.95% of total loans portfolio as of 1H2010).

The news-release of Moody’s Investors Service on the rating action can be downloaded from the VAB Bank’s web-site at http://www.vab.ua/eng/investor_relations/credit_ratings/.