S&P: Ukraine-Based PrivatBank Ratings Revised To 'SD' On Loan Participation Notes Bail-In

January 11, 2017 - Cbonds


S&P Global Ratings today revised its counterparty credit ratings on Ukraine-based PrivatBank to 'SD' (selective default) from 'R'.

The rating action follows the Deposit Guarantee Fund's announcement that PrivatBank's three outstanding loan participation notes have been bailed in following the placing of the bank under temporary administration in late December 2016.
Issuer: PrivatBank
Outstanding issues:
3 issuesUSD595,000,000
5 issuesUAH100,000,000
Issuer rating:
UCRAWithdrawn/National Rating Scale08/01/2013
Moody's Investors ServiceCa/StableLT- foreign currency11/24/2015
Moody's Investors ServiceCaa3/StableLT- local currency11/24/2015
Moody's Investors ServiceBa3.ua/National Scale (Ukraine)09/25/2013
S&P Global RatingsCCC+/StableForeign Currency LT04/26/2017
S&P Global RatingsCCC+/StableLocal Currency LT04/26/2017
Fitch RatingsRD/LT Int. Scale (foreign curr.)12/30/2016
Fitch RatingsCCC/LT Int. Scale (local curr.)12/20/2016
Fitch RatingsBB(ukr)/National Scale (Ukraine)12/20/2016