Ukraine's PrivatBank upgraded by S&P

Ukraine's PrivatBank, the leading commercial bank in the country, was upgraded by international ratings agency Standard & Poor's to 'B/-C'. PrivatBank remains one of the strongest banks in Ukraine despite current difficult economic conditions, according to the S&P analysts.

The official S&P report highlighted PrivatBank's resilience to current economic and political crises as well as its sophisticated risk management system, allowing for greater diversification of business and higher preparedness for losses.

Read the full release here.