OREANDA-NEWS. Standard & Poor's Ratings Services international rating agency initiated the revision procedure of PrivatBank's rating following successful signing of an agreement with its foreign investors on extending the bank’s Eurobonds’ maturities. According to the S&P official press-release, the bank’s international rating is planned to be revised in the next few days after an assessment of the bank's creditworthiness following completion of the debt restructuring.

According to the S&P methodology, PrivatBank’s ratings were temporarily lowered to 'SD', which is a mandatory technical procedure during negotiations between a bank and its creditors on extending Eurobond maturities.

Also according to the S&P official press release, PrivatBank has successfully restructured its Eurobonds. The level of investors' support is one of the highest among similar transactions of Ukrainian entities.

To be reminded, on 13 November 2015, PrivatBank reached an agreement with foreign investors on extending the maturity of USD 220 mln of subordinated debt to the year 2021. Strong support of investors allowed the bank to use raised funds to increase regulatory capital. Also taking into account the extension of USD 200 mln of Eurobonds’ maturities until 2018, PrivatBank has received support in the amount of UAH 10 bln from international investors.