Amid growing geopolitical risks for external financing, the international rating agency Fitch Ratings has changed the outlook of Ukrainian state-owned PrivatBank, Oschadbank, Ukreximbank and Ukrgasbank from “positive” to “stable” and affirmed their Long-term Issuer Default Ratings (IDRs) at “B” in foreign and national currency.
Fitch has also affirmed ProCredit Bank's issuer default rating at 'B+' and downgraded its outlook from 'positive' to 'stable'.
The unsuccessful meeting of advisers to the leaders of the Normandy Four last week and calls from foreign leaders to their citizens to leave Ukraine disrupted the week-long positive dynamics in the Ukrainian Eurobond market and led to a decrease in their prices on Friday by 2.2-4.1%.
The yield of Eurobonds maturing in 2025 increased to 12.2%, in 2026 - to 11.5%, in 2027 - 11%, in 2028 - 10.4%.
On Friday, Ukraine's GDP options, which fell in price by 4.6 percentage points to 71.6% of the nominal, also suffered from the deterioration in investor sentiment.