OREANDA-NEWS. International rating agency Fitch assigned B- (Stable outlook) long term and B short term issuer default ratings to UkrGasBank < UGZB UZ USD1.21 Hold >. The B ratings indicate the presence of certain credit risks with a restricted safety factor, stemming mostly from the high concentration of borrowers and lenders and from a large percentage of transactions with the construction sector.

Analysts of Millennium Capital, a finance services provider, believe that UGZB will try to diversify its funding and clientele base for the rating to be upgraded. According to them, the news will be neutral for the stock price, since the rating is similar to that of other Ukrainian banks (e.g., Ukrsotsbank : both long and short term rating B).