uaAAA

An obligor or a debt liability with uaAAA credit rating is characterized with the HIGHEST creditworthiness as compared to other Ukrainian obligors or debt liabilities.

uaAA

An obligor or a debt liability with uaAA credit rating is characterized with the VERY STRONG creditworthiness as compared to other Ukrainian obligors or debt liabilities.

uaA

An obligor or a debt liability with uaA credit rating is characterized with the HIGH STRONG creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is susceptible to adverse changes in commercial, financial and economic conditions.

uaBBB

An obligor or a debt liability with uaBBB credit rating is characterized with the SUFFICIENT creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is affected by adverse changes in commercial, financial and economic conditions.

uaBB

An obligor or a debt liability with uaBB credit rating is characterized with the LOWER THAN SUFFICIENT creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is strongly affected by adverse changes in commercial, financial and economic conditions.

uaB

uaCCC

An obligor or a debt liability with uaCCC credit rating is characterized with the VERY LOW creditworthiness as compared to other Ukrainian obligors or debt liabilities. There is a default possibility.

uaCC

An obligor or a debt liability with uaCC credit rating is characterised with the VERY HIGH DEFAULT POSSIBILITY.

uaC

An obligor is EXPECTED TO DEFAULT on its debt liabilities.

uaD

DEFAULT. The payment of principal and interest on a debt liability has stopped, without any agreement reached with creditors on the restructuring of the debt before payment became due.

uaK1

An obligor or a debt liability is characterized with the HIGHEST creditworthiness as compared to other Ukrainian obligors or debt liabilities. The financial condition enables the obligor to deter any foreseeable risks in the short-term period.

uaK2

An obligor or a debt liability is characterized with the HIGH creditworthiness as compared to other Ukrainian obligors or debt liabilities. The obligors financial condition is adequately high to deter any foreseeable risks in the short-term period.

uaK3

An obligor or a debt liability is characterized with the SUFFICIENT creditworthiness as compared to other Ukrainian obligors or debt liabilities. The obligors financial condition suffices to deter any foreseeable risks in the short-term period.

uaK4

An obligor or a debt liability is characterized with the LOW creditworthiness as compared to other Ukrainian obligors or debt liabilities. The obligors financial condition is insufficient to deter any foreseeable risks in the short-term period.

uaK5

An obligor or a debt liability is characterized with the VERY LOW creditworthiness as compared to other Ukrainian obligors or debt liabilities. The financial condition does not enable the obligor to deter any foreseeable risks in the short-term period.

uaKD

An obligor announced DEFAULT on the given debt liabilities.

Indicator

Definition

ua

This modifier is appended to a rating assigned in accordance with the Ukrainian National Rating Scale.

-  or  +

A plus "+" and a minus "-" signs indicate intermediary categories compared to the standard categories (grades). 

CreditWatch

Placement on the CreditWatch indicates that the agency is currently considering the rating change due to events or evolving trends which might significantly impact the creditworthiness of such obligor or debt liability.

Withdrawn

A rating is withdrawn, if an obligor does not furnish necessary information for the revision of the rating or by other reasons.

Suspended

A rating is suspended at the intermediate stage prior to its possible (but not necessary) withdrawal in the event the obligor fails to provide the information required for the rating revision or for other reasons.

(pi)

This modifier may be appended to a rating based solely on public information.

Outlook

Definition

Stable

A Stable outlook indicates that there are no anticipated reasons to change the rating in the course of the year.

Positive

A Positive outlook indicates that there is a possibility to upgrade the rating in the course of the year, on the condition that positive tendencies are maintained and that current risks are reduced.

Negative

A Negative outlook indicates that there is a possibility to downgrade the rating in the course of the year, on the condition that negative tendencies are maintained and that current risks are realized.

Developing

A Developing outlook indicates that there is a high possibility for a rating to be changed in the course of the year.