OREANDA-NEWS. On 11 August 2009 was announced, that Moody’s Investors Service announced on Friday that it cut the global local currency deposit rating on First Ukrainian International Bank (FIUKR) from ‘B1’ to ‘B2’, its foreign currency senior unsecured debt rating from ‘B1’ to ‘B2’ and its national scale rating from ‘Aa3.ua’ to ‘A3.ua.’ Moody’s left FUIB’s bank financial strength rating unchanged at E+. Moody’s said the moves reflect FUIB’s tightening liquidity profile that necessitated the initiation of restructuring of its various types of debt in June 2009 and the bank’s weakening financial fundamentals. 

Concorde Capital: The price for the bank’s Eurobonds has already fallen 1% in response to the news. We think that currently the bond is fairly valued and will remain at its current level in the short-term.

Concorde Capital is a full service investment bank operating on the Ukrainian, Russian and CIS markets. In 2007 Concorde Capital’s analytical team was recognized as the Top Team covering Ukraine by Thomson Extel's Pan European Survey. Senior Analyst Alexander Paraschiy was recognized as the Leading Pan-European Investment Analyst – European Emerging Markets. Concorde Capital is a leader when it comes to private placements and M&A deals. Concorde Capital’s sale of a stake in Electron Bank to Volksbank International AG was named the Best Ukrainian M&A deal of the year 2007 by the Adam Smith Institute.