KIEV, April 26 - S&P Global Ratings has raised its long- and short-term counterparty credit ratings on Ukrainian PrivatBank to 'CCC+/C' from 'SD/SD', the outlook is stable.

"The upgrade reflects our understanding that PrivatBank has been servicing its obligations in full and on time since late December 2016, when it was nationalized and the holders of its three loan participation notes (LPNs) and related-party depositors were bailed in. We do not expect the bailed-in LPN holders and depositors to file for PrivatBank's bankruptcy in Ukraine, given that it has been nationalized. The issues PrivatBank defaulted on were not rated by S&P Global Ratings," S&P experts said.