OREANDA-NEWS  On 15 December Credit-Rating, a nationally recognized credit rating agency in Ukraine announced that it affirmed at uaA the long-term credit rating assigned to Oranta National Joint-Stock Insurance Company (`company`). The outlook on the rating is stable. In the course of analysis Credit-Rating considered company`s financial statements for 9M2008 and its other inside information.

An obligor or a debt liability with uaA credit rating is characterized with the HIGH STRONG creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is susceptible to adverse changes in commercial, financial and economic conditions.

Stable outlook indicates that there are no anticipated reasons to change the rating in the course of the year.