S&P Global Ratings has raised its long-term national scale ratings on Ukraine to ‘uaBBB’ from ‘uaBBB-‘ and removed the UCO designation from the ratings. “Our global scale issuer and issue credit ratings on Ukraine are not affected by today’s rating action,” S&P said. On April 20, 2018, S&P Global Ratings affirmed its ‘B-/B’ long- and … Read more
France’s Alstom, the producer of rolling stock and infrastructure solutions, plans to open a representative office in Ukraine in several months, in particular, the office in Kyiv, Managing Director for Western and Central Asia at Alstom Bernard Peille told Interfax-Ukraine during the presentation of the first freight electric locomotive for Azerbaijan Railways in Astana (Kazakhstan). … Read more
The Verkhovna Rada on June 21 at second reading and as a whole adopted the law on currency at the third attempt. According to an Interfax-Ukraine correspondent, 228 people’s deputies voted for the adoption of the law with corrections (except for editing No. 261) with the quorum being 226 votes. Some deputies demanded a re-vote, … Read more
The National Bank of Ukraine (NBU) reported the successful switch of banks in Ukraine to IFRS9 and pointed out the absence of a need in additional capitalization of financial institutions. “Banks have switched to IFRS9. We believe that the transfer was rather successful. Some banks would complete the transfer by the end of the second … Read more
Privatization of small assets that are not of strategic importance for the Ukrainian economy will begin through the ProZorro system in June, Prime Minister of Ukraine Volodymyr Groysman has said. “I believe that privatization is the fund-raising for industry. This month, a new formula for the sale of small enterprises – through ProZorro – starts … Read more
TPS Real Estate, controlled by Russian businessmen Igor Rotenberg, Alexander Ponomarenko and Alexander Skorobogatko, is in talks with the Ukrainian investment fund Dragon Capital about the sale of the Ocean Plaza trade and entertainment center in Kyiv, the Kommersant newspaper reported, with reference to sources familiar with the negotiation process. “TPS Real Estate, in particular … Read more
Fitch Ratings has has affirmed five Ukrainian foreign-owned banks’ Long-Term Foreign-Currency Issuer Default Ratings (IDRs) at ‘B-‘ with Stable Outlooks. The banks are: PJSC Credit Agricole Bank (CAB); ProCredit Bank (Ukraine) (PCBU); PJSCCB PRAVEX-BANK (PXB); PJSC Alfa-Bank (AB); and Ukrsotsbank (USB). Simultaneously, Fitch has withdrawn all of USB’s ratings for commercial reasons. “The affirmation of … Read more
Businessman Vasyl Khmelnytsky plans to create a Ukrainian-Chinese enterprise to assemble tractors. “A small contract has been signed – for $4 million. We expect that next year there will be $20 million,” the businessman said in a video shot on his Facebook page. Khmelnytsky said that China expressed their interest in cooperation with Ukraine. He … Read more
The European Bank for Reconstruction and Development (EBRD) has confirmed its interest to enter the capital of state-owned Oschadbank. The EBRD believes in Ukrainian and their country, and it is time that the EBRD continues working and takes a stake in Oschadbank, EBRD President Suma Chakrabarti said at a meeting of the National Investment Council … Read more
PJSC Moscow Exchange MICEX-RTS has been included in the updated list of legal entities, to which personal special economic and other restrictive measures (sanctions) are applied. According to the document posted on the presidential website, in case of Moscow Exchange, the sanctions regime, in addition to blocking assets, restricting trade operations, also includes a ban … Read more