Credit Rating gives Ukrinbank uaBBB rating, "developing" outlook.

(ADPnews) - Dec 21, 2010 - Credit Rating assigned on Tuesday a long-term uaBBB rating with a "developing" outlook to Kiev-based Ukrinbank (KSE:UKIB).

An obligor or a debt liability with a uaBBB credit rating is characterised by "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.

The "developing" outlook indicates high probability for the rating's change in the course of the year.

The rating is supported by increased volume of long-term financing with funds raised as subordinated debt, coupled with an expected …