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On 10.12.2020, the rating agency Moody's Investors Service ("Moody's") upgraded the long-term foreign currency (FC) deposit rating of PrivatBank to B3 from Caa1.
PrivatBank was upgraded within the rating action taken for 18 banks in CIS region which was driven by changes in country ceilings applied to the jurisdictions of the banks following the publication of Moody's updated Country Ceilings Methodology on 7 December 2020. Country ceilings indicate the highest rating level that can generally be assigned to the financially strongest obligations of issuers domiciled in a country.
PrivatBank's long-term FC deposit rating is now in line with that of the Government of Ukraine (currently B3 stable).