FUIB Bonds Rated uaAA-
OREANDA-NEWS. June 26, 2012. Credit-Rating agency assigned uaAA- credit rating to the issue of inscribed interest-bearing unsecured bonds (series E and F) of PUBLIC JOINT STOCK COMPANY “FIRST UKRAINIAN INTERNATIONAL BANK” (FUIB) of UAH 1 billion with maturity dates: series E bonds, 10.06.2015; series F bonds, 12.07.2015. Rating outlook – stable. The rating action was performed on the basis of the FUIB’s financial statements for 2007- 2011 and 1Q2012 and other data provided by the Bank for rating purposes.
According to the applied rating scale the borrower or debt instrument with assigned uaAA- credit rating is characterised by the very strong creditworthiness against other Ukrainian borrowers or debt instruments. Plus (+) and Minus (-) signs indicate rating subcategories in the main grades.
Stable outlook indicates that at present there are no anticipated rating downgrade reasons within one year.
loan portfolio diversification by major borrowers and business activities;
adequate capital and liquidity;
diversified funding by sources and major creditors;
well-balanced asset/liability maturities;
adequate performance indicators;
nationwide branch network and robust card business securing customer retention and the Bank’s competitive positions.
exposure to currency and credit risks, which can put pressure on the capital;
significant share of bad debt in the loan portfolio;
almost flat business environment and difficulties experienced so far by some economic sectors that constrain the effective demand for lending and have an adverse impact on the Bank’s financials.