OREANDA-NEWS. July 04, 2012. Ukrainian biggest rating agency "Credit Rating" confirmed the previously assigned credit rating of Piraeus Bank in Ukraine. The bank’s long-term credit rating was confirmed at uaA level with forecast "stable". This rating remains unchanged for 4 years (since its assignment on June 13, 2008).

According to the agency, the uaA rating is characterized with high creditworthiness of the bank compared to other Ukrainian obligors or debt liabilities. A stable forecast indicates that there are no reasons to change the rating during the year.

During the analysis the agency used the financial statements of the bank for 2010-2011 and for Q1 2012, as well as the inside information provided by the bank in the rating process.
 The assignment of uaA rating for Piraeus Bank in Ukraine by the rating agency "Credit Rating" was influenced by the following factors: availability of support from the main shareholder, Piraeus Bank S. A., high liquidity and the balance of assets and liabilities by term to maturity, availability of the relatively cheap resource base that allows bank to maintain a competitive position in the financial market.