OREANDA-NEWS. Fitch Ratings has today affirmed Ukrsotsbank's ("Ukrsots") Issuer Default ("IDR") and Support ratings at 'B-' (B minus) and '5' respectively and removed them from Rating Watch Positive ("RWP"). A Positive Outlook has been assigned to the bank's IDR.

The other ratings are affirmed at Short-term 'B' and Individual 'D'.

The removal of RWP follows the recent announcement that the seller of the controlling shareholding in Ukrsots has exercised his right to terminate the share sale agreement with Italy's Intesa Sanpaolo (IDR 'AA-' (AA minus)/Stable), initially signed on 14 February 2006 and subsequently amended on 4 September 2006.

The termination came after the transaction failed to be completed by the scheduled deadline of 31 March 2007.