The FINANCIAL — Kyiv-based Credit Rating agency has suspended the long-term credit rating to the issue of A series bonds of Kyiv-based Kontrakt bank worth UAH 20 million, Ukrainian News agency said this in the report.
The ratings were suspended due to redemption of the debt instrument.
The suspension of the rating is the intermediate stage before the rating recalling.
As of the moment of suspension the bank's bonds had the rating of uaBB+.
The uaBB rating indicates risk of default within unfavourable circumstances.
The plus sign refers to intermediate rating category.
As Ukrainian News earlier reported, in November 2007, the agency assigned the uaBB+ rating to the issue of A series bonds of the bank worth UAH 20 million.
As of January 1, 2009, the bank's net assets were UAH 415.701 million, credit portfolio was UAH 241.534 million and core capital was UAH 69.950 million.
The bank ended 2008 with a net profit of UAH 3.191 million.
The Kontrakt bank is an open joint-stock company.
The stockholders of the financial institution are Kyiv-based limited liability companies: Futures (45.65%), Forma-K (23.01%), and Bimen (18.8%).
The Kontrakt bank (former Antares bank) was founded in 1993.
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