Moody's withdraws Credit Dnepr Bank's ratings for its own business reasons
Moody's Investors Service has withdrawn Credit Dnepr Bank's ratings for its own business reasons, reads a press release of Moody's.
According to the document, Moody's Investors Service has withdrawn the bank's Caa3 long-term local currency and Ca foreign-currency deposit ratings, Not Prime short-term deposit ratings, E standalone bank financial strength rating (BFSR), equivalent to a caa3 baseline credit assessment and Caa3.ua National Scale Rating (NSR). At the time of the withdrawal the bank's long-term deposit ratings carried a negative outlook, whilst the BFSR and the NSR carried no specific outlook.
Bank Credit Dnepr was founded in 1993. The sole shareholder of the bank at the beginning of January 2014 was Brancroft Enterprises Limited (Cyprus, 100%), the beneficial owners - Ukrainian businessman Victor Pinchuk and his family members.
According to the National Bank of Ukraine, on April 1, 2014 by total assets (UAH 6.412 billion) Bank Credit Dnepr ranked 35th among 181 Ukrainian banks.
