Ratings

The Bank has ratings assigned by the leading international rating agency Moody’s Investors Service since 2003.

On 12 October 2010, Moody’s Investors Service changed to positive from stable the outlook for VAB Bank’s financial strength rating (BFSR), long-term foreign and local-currency Bank deposit ratings and foreign-currency senior unsecured debt rating. The National Scale Rating was upgraded to Ba1.ua from Ba2.ua.

Moody’s commented that its action reflected VAB Bank’s high capitalization level, further share capital injection expected by the year-end 2010, and sufficient level of loan-loss provisions.

	Rating	Outlook
Deposit Ratings	Caa1/NP	Positive
BFSR	E	Positive
National Scale Rating	Ba1.ua

Credit Opinion Moody’s — June 2011

Moody's comment – January 2011