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Banking

Moody’s changes outlook for Colvis Finance limited bonds to positive.

Moody’s changes outlook for Colvis Finance limited bonds to positive. Moody's Investors Service changed the outlook on Colvis Finance Limited USD 107.5mn bonds from stable to positive. The action was caused by higher political stability in the country, government actions towards reduction of tax burden and introduction of important pension and health care reforms. In addition the proposed policies for modernization of steel industry and other important sectors of economy had a positive effect. To remind, Moody's changed Ukraine 's B1-rated local and foreign currency medium-to-long term government bonds and its B2-rated foreign currency bank deposit ceiling to positive from stable. The rating outlook for Ukraine ’s Ba3 foreign currency country ceiling for bonds was also changed to positive from stable.

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