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-Credit Rating terminates IAPM's rating watch.

BANKING AND CREDIT NEWS-July 19, 2011--Credit Rating terminates IAPM's rating watch(C)2011 M2 COMMUNICATIONS

19 July 2011 - Credit Rating pulled out today from rating watch list the long-term ratings of uaA- assigned to Ukrainian Kiev-based Interregional Academy of Personnel Management (IAPM) and its UAH10m (USD1.25m/EUR881,000) A series and UAH20m B series bond.

The outlook is "negative".

The action is in response to the full redemption of IAPM's A series bond issue, the service specified.

An obligor or a debt liability with uaA credit rating is characterised with strong creditworthiness as compared to other Ukrainian obligors or debt liabilities.

The "negative" outlook indicates a potential downgrade in the course of the year due to IAPM's high susceptibility to operational risks, which in turn could lead to untimely repayment of financial obligations.

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Publication:M2 Banking & Credit News (BCN)
Date:Jul 19, 2011
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