OREANDA-NEWS. July 29, 2010. Fitch Ratings has upgraded PrivatBank long-term issuer default rating from 'B-'to 'B', the agency reported July 28. The outlook was defined by the rating agency as stable. The rating upgrade follows Fitch's upgrade of Ukraine's long-term rating from 'B-'to 'B'. Privat's upgrade also reflects some signs of stabilization in the bank's asset quality metrics, acceptable Basel capital ratios, a more comfortable liquidity position following sizable deposit inflows, a limited near-term refinancing risk, solid pre-impairment performance, and a broad domestic franchise.

Millennium Capital sees this news as slightly positive for PRBANK. This rating upgrade was expected after the agency had improved the rating of other major Ukrainian banks.