OREANDA-NEWS. Fitch Ratings has today affirmed CJSC Privatbank's ("Privat") ratings at Issuer Default 'B', Short-term 'B', Individual 'D' and Support '4'. The Outlook on the Issuer Default rating ("IDR") remains Positive, reflecting that of the Ukrainian sovereign.

"In light of the bank's improving core profitability, its scale and general improvements in the operating environment, Privat's standalone financial strength is now sufficient to warrant a 'B' IDR without considering possible support from the Ukrainian authorities," says Lindsey Liddell, Director of Fitch's Financial Institutions Group.
 
Previously, the bank's IDR had been driven solely by potential support being forthcoming from the Ukrainian authorities.

However, the Positive Outlook on Privat's IDR continues to reflect that of the Ukrainian sovereign, since a sovereign upgrade would raise the support floor for the bank.