Fitch Ratings has upgraded Ukrainian integrated steel company Metinvest B.V.’s (Metinvest) Long-Term Local- and Foreign-Currency Issuer Default Ratings (IDRs) and senior unsecured bonds to ‘BB-‘ from ‘B+’. The Outlook is Stable. “The upgrade follows Ukraine’s Country Ceiling upgrade to ‘B’ from ‘B-‘on 6 September 2019. The IDR of Metinvest remains two notches above the Country … Read more
Fitch Ratings has upgraded National Joint Stock Company Naftogaz’s (Naftogaz) Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘B’ from ‘B-‘. The Outlook is Positive. The upgrade follows that of Ukraine’s sovereign rating (B/Positive) on September 6, 2019, Fitch said on Friday. The rating also takes into account Naftogaz’s weak liquidity profile but overall low leverage … Read more
Fitch Ratings has upgraded JSC Ukrzaliznytsia Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to ‘B’ from ‘B-‘, according to a report on the rating agency’s website. “The rating action follows the upgrade of Ukraine’s ratings,” it says. “Under Fitch’s Government-Related Entity (GRE) Criteria, Ukrzaliznytsia’s score of 27.5 is unchanged and stems from a very … Read more
Fitch has said that after a strong Q2 2019 (4.6% year-over-year), Fitch projects 3.4% growth in 2019, reflecting strong domestic demand and exports driven by the agriculture sector (wheat harvest). “Growth will moderate slightly (3.2%) in 2020 due to reduced consumer impulse, normalisation of the agricultural sector performance and some spill-overs from reduced gas transport … Read more
Fitch Ratings has upgraded Ukraine’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) to ‘B’ from ‘B-‘, the outlooks are positive, according to a report on the rating agency’s website. “Ukraine has demonstrated timely access to fiscal and external financing, improving macroeconomic stability and declining public indebtedness, while a shortened electoral period has reduced domestic … Read more
Fitch Ratings has affirmed the Ukrainian city of Lviv’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘B-‘, the outlooks are stable, the rating agency has reported on its website. “Fitch has also assigned the city a National Long-Term Rating of ‘AA-(ukr)’ with stable outlook,” it says. “The affirmation reflects Fitch’s unchanged view that … Read more
The international rating agency Fitch Ratings has affirmed the foreign-currency long-term issuer default ratings (IDR) of ProCredit Bank, Bank Credit Agricole and Pravex-Bank at “B-” and local-currency IDRs at “B” with a stable outlook, the agency has reported.
Fitch Ratings has upgraded Ukrainian integrated steel company Metinvest B.V.’s (Metinvest) Long-Term Local- and Foreign-Currency Issuer Default Ratings (IDRs) to ‘B+’ from ‘B’ and senior unsecured bonds to ‘B+’ from ‘B’ with an unchanged Recovery Rating of ‘RR4’, the outlook is stable, according to a report on the rating agency’s website. “The upgrade reflects Metinvest’s … Read more
Fitch Ratings has affirmed Ukraine’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B-‘ with a Stable Outlook. Fitch said in its press release that Ukraine’s ratings balance weak external liquidity, high external financing needs driven by sovereign external debt repayments, a weak banking sector, institutional constraints and political risks in relation to peers, against improved … Read more
Fitch Ratings has affirmed Ukraine-based DTEK Energy B.V.’s (DTEK) Long-Term Foreign-Currency Issuer Default Ratings (IDR) at ‘RD’ (Restricted Default). The agency has also affirmed DTEK’s U.S. dollar Eurobond senior unsecured rating at ‘C’ with a Recovery Rating of ‘RR4’ and an expected recovery of 50%. According to the document, the affirmation reflects continued negotiation on … Read more