Metinvest B.V. (the Netherlands), the parent company of Metinvest mining and metallurgical group, in January-June of this year saw 39% fall in net profit compared to the same period last year, to $408 million, margin by 4 p.p., to 7%. According to preliminary unaudited interim financial results for the first half of 2019, for the reporting period its revenues decreased 6%, to $5.818 billion. The consolidated … Read more
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
Moody’s Investors Service has today upgraded the corporate family rating of DTEK Energy B.V. to Caa2 from Ca. The outlook on the rating is stable, according to a report on Moody’s website. Concurrently, Moody’s has upgraded DTEK Energy’s probability of default to Caa2-PD from Ca-PD. “The rating action follows the change in outlook to positive … Read more
DTEK Energy has bought 88,000 tonnes of G group coal from Columbia. According to the company’s press release, the unloading of the W-Ace bulk carrier has already begun at the TIS terminal (Odesa region), after which coal will go to DTEK Energy’s thermal power plants (TPPs). “Today in the Ukrainian energy sector there is a … Read more
Solar Farm 1 LLC, part of DTEK Renewables B.V., has officially launched Ukraine’s largest Nikopol solar power station with an installed capacity of 200 MW. “Today we are opening up the largest solar power station in our country, one of the largest in Europe. Today we are talking about the largest energy investments in the … Read more
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
Kernel, one of the largest Ukrainian agricultural groups, received $164 million of net profit in the first half of the 2019 fiscal year (FY, July 2018-June 2019), which is 83% more than in the same period last year. According to the company’s financial report on the website, its revenue in July-December 2019 FY increased by … 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
The Antimonopoly Committee of Ukraine has closed a case opened over the signs of violation of legislation on protection of economic competition by DTEK Dniproenergo, DTEK Zakhidenergo and DTEK Skhidenergo. The decision was made at the end of 2018 by the committee. As reported, the committee in 2015 started an investigation into monopoly of DTEK … Read more
Moody’s Investors Service (Moody’s) has upgraded to B3 from Caa1 the corporate family ratings (CFRs) and to B3-PD from Caa1-PD the probability of default ratings (PDRs) of three companies operating in Ukraine: Britain’s Ferrexpo Plc with assets in Ukraine, Metinvest B.V. (the Netherlands), the holding company of Metinvest Group, and MHP SE, the holding company … Read more