KIEV, July 3 - Fitch Ratings has upgraded Ukraine-based Pravex Bank's ratings to Long-term foreign currency Issuer Default (IDR) to 'BB-' (BB minus) from 'B-' (B minus), Support '3' from '5' and National Long-term 'AAA(ukr)' from 'BBB(ukr).’

The ratings are removed from Rating Watch Positive, where they were originally placed on 5 February 2008. This follows the recently completed 100% acquisition of by Intesa Sanpaolo (rated 'AA-' (AA minus)/'F1'/Outlook Stable).