OREANDA-NEWS. December 12, 2012. The change of the outlook to negative from stable on Ukrinbank's standalone and deposit ratings, in line with the negative outlook on Ukraine's B3 sovereign rating, is driven primarily by the linkages between the bank's credit profile and sovereign credit risk. Despite the bank's insignificant exposure to Ukraine's sovereign debt and state-owned enterprises, Ukrinbank's credit profile is likely to be adversely affected by the weak and volatile operating environment in Ukraine, where all of its business is concentrated. In particular, deteriorating economic conditions will likely exert significant downside pressure on the bank's asset quality, profitability and capitalisation.

 - BFSR unchanged at E+, equivalent to a b3 standalone credit assessment
 - Long-term foreign-currency deposit rating downgraded to Caa1 from B3
 - Negative outlook on all long-term global-scale ratings