Moody's downgrades by 1 notch long-term rating of 7 Ukrainian banks

KYIV. May 25 (Interfax) - The Moody's Investors Service international rating agency has downgraded the long-term ratings and assessments of seven Ukrainian banks - Privatbank, Savings Bank of Ukraine, Ukreximbank, JSC Raiffeisen Bank, Pivdennyi Bank, JSCB, TASCOMBANK JSC, Bank Vostok PJSC - from Caa1 to Caa2 based on the new assessment methods.

A statement published on the agency website explained the move with the downgraded sovereign rating of Ukraine from Caa3 to Caa2 with a negative outlook.

The negative outlook reflects a high uncertainty about further progress of the military operation in Ukraine and its severe impact on Ukraine's economic conditions and banks' operating environment, including liquidity problems, the agency said.