Information and Rating Agency

UKRAINE: MISSION IS

POSSIBLE

www.credo-line.com

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Information and Rating Agency

Gross External Debt and

Private Sector Indebtedness

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Gross External Debt of Ukraine

Information and Rating Agency

Indicators, USD mln as of as of as of as of as of as of as of as of as of as of as of as of

01.01.2005 01.01.2006 01.01.2007 01.01.2008 01.01.2009 01.01.2010 01.01.2011 01.01.2012 01.01.2013 01.01.2014 01.01.2015 01.04.2015

General public sector 10 058 10 506 10 924 11 884 11 959 17 806 24 982 25 874 27 333 29 922 32 884 34 608

Short-term 0 0 0 0 0 29 2 053 2 001 62 0 6 4

Debt securities 0 0 0 0 0 29 53 1 62 0 6 4

Credits 0 0 0 0 0 0 2 000 2 000 0 0 0 0

Long-term 10 058 10 506 10 924 11 884 11 959 17 777 22 929 23 873 27 271 29 922 32 878 34 604

Oblifations for special drawing rights alocation 0 0 0 0 0 1 925 1 891 1 885 1 887 1 897 1 779 1 694

Debt securities 4 440 5 496 6 248 7 414 6 997 5 747 9 148 10 047 14 221 19 386 19 334 19 008

Credits 5 618 5 010 4 676 4 470 4 962 10 105 11 890 11 941 11 163 8 639 11 765 13 902

Central Bank 1 695 1 257 880 462 4 725 6 211 7 512 7 492 4 865 1 775 2 176 5 810

Short-term 10 3 0 0 0 1 3 5 12 0 0 1 647

Currency and deposits 5 3 0 0 0 1 3 5 12 0 0 1 647

Credits 5 0 0 0 0 0 0 0 0 0 0 0

Long-term 1 685 1 254 880 462 4 725 6 210 7 509 7 487 4 853 1 775 2 176 4 163

Oblifations for special drawing rights alocation 0 0 0 0 0 128 125 125 125 126 118 112

Credits 1 685 1 254 880 462 4 725 6 082 7 384 7 362 4 728 1 649 2 058 4 051

Other depository institutions 2 657 6 109 14 089 30 949 39 471 30 860 28 116 25 193 21 541 22 555 18 752 17 104

Short-term 1 647 3 081 6 465 11 723 9 330 4 621 4 432 5 778 4 248 5 432 5 236 4 990

Currency and deposits 1 568 2 663 5 372 9 969 8 238 4 193 4 007 5 686 4 063 4 771 4 677 4 572

Debt securities 11 24 98 0 0 0 0 0 0 0 0 0

Credits 68 394 995 1 754 1 092 428 425 92 185 661 559 418

Long-term 1 010 3 028 7 624 19 226 30 141 26 239 23 684 19 415 17 293 17 123 13 516 12 114

Currency and deposits 581 1 377 3 751 9 014 20 740 19 492 17 806 14 551 12 939 10 288 7 131 6 097

Debt securities 356 1 232 3 304 6 998 6 124 4 924 4 672 3 648 3 301 5 082 4 365 4 044

Credits 73 419 569 3 214 3 277 1 823 1 206 1 216 1 053 1 753 2 020 1 973

Private sector 15 678 20 913 26 676 33 581 41 255 43 441 50 843 59 357 70 441 76 642 63 252 58 816

Short-term 8 364 7 504 8 364 8 512 10 134 11 985 15 190 18 933 21 107 24 310 15 050 13 065

Debt securities 0 0 0 0 0 0 8 440 0 0 0 0

Credits 471 634 736 838 800 525 790 1 500 717 899 995 837

Trade credits and advance payments* 7 893 6 870 7 628 7 674 9 334 11 460 14 392 16 993 20 390 23 411 14 055 12 228

Long-term 7 314 13 409 18 312 25 069 31 121 31 456 35 653 40 424 49 334 52 332 48 202 45 751

Debt securities 990 1 383 1 963 2 124 1 634 2 472 3 431 4 082 5 251 6 291 4 665 4 619

Credits 6 324 9 740 13 958 21 728 28 753 28 789 31 989 36 157 43 743 44 829 41 723 40 191

Trade credits and advance payments 0 2 286 2 391 1 217 734 195 233 185 340 1 212 1 814 941

Direct investment: intercompany debt 559 834 1 943 3 079 4 249 5 095 5 893 8 320 10 445 11 185 9 243 9 629

including

Trade credits* 0 0 0 0 0 0 0 1 200 1 552 2 342 1 175 1 224

Gross external debt** 30 647 39 619 54 512 79 955 101 659 103 413 117 346 126 236 134 625 142 079 126 307 125 967

** Since the beginning of 2014, this data is presented excluding statistics of the Autonomous Republic of Crimea.

* On the recommendations of the IMF Mission on the Statistics of the External Sector, since 2012 amounts payable of enterprises with direct investments to non-resident direct investors were moved from the item "Short-term trade

credits of other sectors" to the item "Intercompany debt".

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Gross External Debt, USD mln

Information and Rating Agency

Structure of Other Debt

117 346

103 413

126 236

134 625

126 307

142 079

125 967

34%

66%

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Private and intercompany debt

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Private Sector, USD million

Intercompany Debt of Ukrainian

Subsidiaries Against their Foreign

Parent Companies, USD million

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Trade Credits and Advance Payments, USD mln

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Structure of Trade Credits and Advance

Payments

-37%

-16%

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Total Amount of Credit Limits Granted by

the Agency, EUR mln

Information and Rating Agency

2 541,24

1 015,62

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Total Amount of Credit Limits Granted by

the Agency, EUR mln

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Information and Rating Agency

Challenges of Ukrainian

Importers in 2015

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Challenges of Ukrainian importers in 2015

Information and Rating Agency

- National currency devaluation

- Lack of working capital

- Acceleration of inflation growth

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National currency devaluation

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Negative factors

increased cots on purchase of foreign

currency to settle accounts with foreign

suppliers

negative influence on financial

position

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National currency devaluation

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Recent improvements

stabilization of forex market in

Ukraine

liberalization of currency legislation

successful public debts restructuring

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Lack of working capital

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Negative factors

Increased costs of crediting

Weaker banking system

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Lack of working capital

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Recent improvements

growth of deposits and credits

volume

first signs of improved liquidity in

banking sector

decrease of refinancing rate

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Acceleration of inflation growth

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Negative factors

Growth of prices

Decreased demand

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Acceleration of inflation growth

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Recent improvements

stabilization of CPI and PPI in

summer 2015

cancellation of additional import fee

lower inflation expectations due to

liberalization of trade restriction

between Ukraine and the EU

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Information and Rating Agency

Credo Line`s Mechanisms

Aimed at Prevention of Non-

payments, Increased

Transparency and Facilitating

Debt Collection

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Non-payment risks reducing

Information and Rating Agency

Mechanisms aimed at prevention of

non-payments

• highly accurate assessment of the

buyer`s financial situation

• using legal instruments

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Non-payment risks reducing

Information and Rating Agency

Legal instruments

• accurate preparation of contracts

• right choice of the legal system

• using expert and legal opinions on the

borrower

• professional legal team

• single register on the credit history

and bad payments of individuals and

businesses

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Information and Rating Agency

Thank you for your attention!

Head office in Ukraine:

LLC Credo Line

Business Center “Tower №5”

22, Rybalska Street, office 14.14

Kyiv, 01011, Ukraine

Mobile: +380 50 444 57 64

Tel/fax: +38(044) 499 31 90 (91)

Email: office@credo-line.com

Website: www.credo-line.com

Office in Poland:

Credo Line Polska Sp Z.o.o.

Kleszczowa 41 Lok.2

02-485 Warszawa, Poland

NIP: 5223023325

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