KIEV, June 23 - Moody's Investors Service has assigned Counterparty Risk Assessments (CR Assessments) to three Ukrainian banks: CR Assessments of Caa2(cr) were assigned to Raiffeisen Bank Aval, and Caa3(cr) to PrivatBank and Oschadbank of Ukraine. Concurrently, Not-Prime(cr) short-term CR Assessments have been assigned to all the banks.

According to Moody's CR Assessments are opinions of how counterparty obligations are likely to be treated if a bank fails and are distinct from debt and deposit ratings in that they (1) consider only the risk of default rather than expected loss and (2) apply to counterparty obligations and contractual commitments rather than debt or deposit instruments. The CR Assessment is an opinion of the counterparty risk related to a bank's covered bonds, contractual performance obligations (servicing), derivatives (e.g., swaps), letters of credit, guarantees and liquidity facilities.