OREANDA-NEWS. Fitch international ratings agency has upgraded the rating of the class 'B' bonds issued by Ukraine Mortgage Loan Finance No.1 Plc under PrivatBank transactions of mortgage loans securitisation to 'BB-' from 'CCC'. The rating Outlook is Stable.

As Fitch reports, PrivatBank bonds rating has been capped at 4 points above the Ukraine's Country Ceiling. It was attributed to the bank's formation of a reserve fund which exceeded the bonds' outstanding amount.

Ukraine Mortgage Loan Finance N1 Plc. is a special legal entity created in the frames of a deal - securitisation of dollar-denominated mortgage loans, at that the seller of the mortgage portfolio is the PrivatBank.