Fitch downgrades outlooks of six Ukrainian banks

Fitch Ratings has downgraded to "negative" from "stable" the outlooks of six Ukrainian banks, Radio Liberty has reported, citing a press release of the agency.

"Fitch Ratings worsened its forecast for Ukrainian banks UkrSibbank, Ukrsotsbank, VTB Bank, ProCredit Bank, Pravex-Bank and Credit Agricole Bank," reads the statement.

According to the press release, Fitch affirmed the long-term foreign currency Issuer Default Ratings (IDRs) of the banks at 'B.' The rating actions follow the agency's revision on June 28 of the outlooks on Ukraine's long-term foreign and local currency IDRs to Negative from Stable.

Adapted from Ukrinform