LONDON, Sept. 12 - Standard & Poor's Ratings Services said today that it raised its long- and short-term counterparty credit ratings on Ukraine-based Ukrsotsbank to 'B/B' from 'B-/C'.

The 'B' long-term counterparty credit rating remains on CreditWatch with positive implications, where it was placed on Feb. 15. At the same time, Standard & Poor's removed its 'B' short-term counterparty credit rating from CreditWatch with positive implications, where it had been placed on July 25.