The independent rating agency “Kredit-Rating” named long-dated credit rating uaA- to the bond issue of the interest-bearing bonds (series E-F) of the MEGABANK Plc in the amount of 200 millions UAH with a term circulation of 3 years. During the analysis the agency used the financial statment of the MEGABANK Plc over a period of 2002-2006 and for 9 mounths of 2007, and aslo used internal information put by the bank during the rating process.

A borrower or an instrument of debt with uaA rating is defined with high solvency in comparison with other ukrainian borrowers or instruments of debt. The level of solvency is susceptible to unfavourable commercial, financial and economic conditions. The signs “+” and “-“ indicate intermediate levels about main levels of the rating.

The upholding factors of the level of credit rating:

• the bank created and operates with the integral system of settlement for housing services which provides for bank diversification of income and contributes to development of retail business (given to 10.01.2007 the number of clients of the Integral Clearing Center was 1.7 millions people);
• ample development of the regional net work and of card business, and expansion of channels of sellings in the regions of Ukraine create the prerequisites for further development of the bank and improvement of it’s financial indices;
• improvment of the class of credit porfolio of the bank (specific weight of overdue and doubtful indebtedness in the clients credit portfolio decreased in 3.5 from the period of 01.10.2006 - 01.10.2007) and improvment of the diversification of reserve base of the bank headed for the attraction of funds.

The limitative factors of the level of the credit portfolio:

• concentration of the credit portfolio of the major borrowers (more than 170% of the capital of the first level falls to the 20 biggest borrowers), that including negligible level of reservation on the credit operations could bad influence on the liquidity and capitalization of the bank;
• necessity of optimization of business prossses and improvment of the system of managment of risks in view of growthing scale of the banking activities.