When NRA "Rurik" conducts a credit rating assessment of a borrower and/or debt instrument, it uses the National Rating Scale approved by the Resolution of the Cabinet of Ministers of Ukraine No. 665 dated April 26, 2007. To determine the financial strength (stability) rating of insurance companies, the Agency uses the Rating Scale for evaluating the financial strength (stability) of insurance companies, and for deposit ratings, the Scale for assessing the reliability of deposits.

Credit Ratings | Insurer Ratings | Additional Notations | Deposit Ratings

Credit Ratings

Long-Term Investment-Grade Credit Ratings Long-Term Speculative-Grade Credit Ratings
 uaAAA Borrower or a specific debt instrument characterized by the highest creditworthiness compared to other Ukrainian borrowers or debt instruments  uaBB Borrower or a specific debt instrument characterized by creditworthiness lower than adequate compared to other Ukrainian borrowers or debt instruments. High dependence on the impact of adverse commercial, financial, and economic conditions
uaAA Borrower or a specific debt instrument characterized by very high creditworthiness compared to other Ukrainian borrowers or debt instruments uaB Borrower or a specific debt instrument characterized by low creditworthiness compared to other Ukrainian borrowers or debt instruments. Very high dependence on the impact of adverse commercial, financial, and economic conditions
uaA Borrower or a specific debt instrument characterized by high creditworthiness compared to other Ukrainian borrowers or debt instruments. The level of creditworthiness is sensitive to adverse commercial, financial, and economic conditions uaCCC Borrower or a specific debt instrument characterized by very low creditworthiness compared to other Ukrainian borrowers or debt instruments. Potential default likelihood
uaBBB Borrower or a specific debt instrument characterized by sufficient creditworthiness compared to other Ukrainian borrowers or debt instruments. Creditworthiness level depends on the impact of adverse commercial, financial, and economic conditions uaCC Borrower or a specific debt instrument characterized by a high likelihood of default
  uaC Default is expected on the borrower's debt obligations
uaD Default. Payments of interest and principal on the borrower's debt obligations have ceased without reaching an agreement with creditors on debt restructuring before the maturity date
Short-Term Investment-Grade Credit Ratings Short-Term Speculative-Grade Credit Ratings
uaК1 Borrower or a specific debt instrument characterized by the highest creditworthiness compared to other Ukrainian borrowers or debt instruments. The financial condition of such a borrower enables mitigating anticipated risks in the short term uaК4 Borrower or a specific debt instrument characterized by low creditworthiness compared to other Ukrainian borrowers or debt instruments. The financial condition of such a borrower is insufficient to mitigate anticipated risks in the short term
uaК2 Borrower or a specific debt instrument characterized by high creditworthiness compared to other Ukrainian borrowers or debt instruments. The financial condition of such a borrower is sufficiently high to mitigate anticipated risks in the short term uaК5 Borrower or a specific debt instrument characterized by very low creditworthiness compared to other Ukrainian borrowers or debt instruments. The financial condition of such a borrower does not enable mitigating anticipated risks in the short term
uaК3 Borrower or a specific debt instrument characterized by sufficient creditworthiness compared to other Ukrainian borrowers or debt instruments. The financial condition of such a borrower is satisfactory to mitigate anticipated risks in the short term uaКD Borrower has declared default on debt obligations

 

Insurer's Financial Reliability (Stability) Rating

  Investment Grade   Speculative Grade
uainsAAA An insurance company is characterized by the highest financial strength compared to other Ukrainian insurance companies uainsBB An insurance company is characterized by financial strength lower than adequate compared to other Ukrainian insurance companies. High dependence on the impact of adverse commercial, financial, and economic conditions
uainsAA An insurance company is characterized by very high financial strength compared to other Ukrainian insurance companies uainsB An insurance company is characterized by low financial strength compared to other Ukrainian insurance companies. Very high dependence on the impact of adverse commercial, financial, and economic conditions
uainsA An insurance company is characterized by high financial strength compared to other Ukrainian insurance companies uainsCCC An insurance company is characterized by very low financial strength compared to other Ukrainian insurance companies. Potential likelihood of default
uainsBBB An insurance company is characterized by sufficient financial strength compared to other Ukrainian insurance companies. The level of financial strength depends on the impact of adverse commercial, financial, and economic conditions uainsCC An insurance company is characterized by a high likelihood of default
   uainsC An insurance company expects default on insurance and debt obligations

 

Additional notations and Outlooks

Additional Notations Credit Rating Outlooks

ua

Ratings obtained in accordance with the National Rating Scale

stable "Stable" outlook means that changes in the credit rating are unlikely

+/-

Intermediate rating levels relative to the main levels

positive "Positive" outlook indicates the possibility of an increase in the credit rating while maintaining positive trends and mitigating current risks

withdrawn

Rating withdrawn due to the borrower's failure to provide necessary information for rating update or other reasons

negative "Negative" outlook indicates the possibility of a decrease in the credit rating while maintaining negative trends and realizing current risks

suspended

Rating that may be withdrawn (as an intermediate stage before possible withdrawal) due to the borrower's failure to provide necessary information for rating update or other reasons

developing "Developing" outlook indicates an increased likelihood of changes in the credit rating, with the possibility of both positive and negative trends and current risks

(pi)

Ratings determined based on the use of only public information

    

(K)

Rating placed on the Watchlist. The agency monitors the financial and economic activities of the issuer/borrower on an ongoing basis. The removal of a long-term credit rating from the Watchlist and its subsequent review depends directly on the agency receiving additional information regarding the financial and economic condition of the issuer/borrower.

 

Deposit Reliability Rating

r5

Indicates very high reliability of deposits. The bank's operations are characterized by a low dependence on financial and economic conditions, as well as market conditions. The likelihood of deposit repayment is very high.

r2 Indicates low reliability of deposits. The bank's operations are characterized by very high dependence on adverse commercial, financial, and economic conditions.

r4

Indicates high reliability of deposits. The bank's operations are characterized by moderate dependence on financial and economic conditions, as well as market conditions. The likelihood of deposit repayment is high.

r1 Indicates very low reliability of deposits. There is a potential likelihood of the bank not repaying a deposit.

r3

Indicates moderate reliability of deposits. The bank's operations are characterized by a significant dependence on adverse commercial, financial, and economic conditions.

 

 

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