January 09, 2008 | Cbonds
| Standard & Poor's Ratings Services said today that it assigned its 'B-' long-term rating to Ukraine-based Nadra Bank. The outlook is stable.|
"The rating reflects the bank's rapid business growth in a risky operating environment, vulnerable liquidity position, and moderate core profitability," said Standard & Poor's credit analyst Ekaterina Trofimova. "These negative factors are partly mitigated by the bank's strong commercial dynamism and focused strategy, moderate single-name concentrations, and improving cost management."
The ratings reflect the bank's stand-alone credit quality and do not include any uplift for extraordinary external support--either from the owners or the government--due to the uncertainty of such support.
"The stable outlook balances the bank's continued progress in strengthening its commercial franchise, profitability, and risk management with its structural weaknesses related to its financial profile," said Ms. Trofimova.
Sustained commercial performance, as well as a stronger funding and liquidity profile, better profitability, and improved capitalization could lead to an upgrade. Although the potential for a downgrade appears limited, a material deterioration in the bank's financial profile, including its liquidity and capital position, could trigger a negative rating action.
Società: Nadra Bank
|Nome completo della società||PJSC "Bank "Nadra"|