KIEV, Jan. 21 - The fundamental credit outlook for Ukrainian financial institutions is negative, reflecting the likelihood that the banks' financial fundamentals will continue to be negatively affected by the uncertainty in domestic and international financial markets, funding pressures, the steep depreciation of the Ukrainian hryvnia and a slowdown in economic growth, says Moody's Investors Service.

"Moody's negative outlook for the Ukrainian banking system expresses the rating agency's view on the likely future direction of fundamental credit conditions in the industry over the next 12 to 18 months," says the rating agency.