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Published on 12/21/2022 in the Prospect News Distressed Debt Daily and Prospect News Emerging Markets Daily.

Fitch drops, ups DTEK Energy

Fitch Ratings said it downgraded DTEK Energy BV's long-term foreign- and local-currency issuer default ratings to RD, restricted default, from C following the execution of the tender offer and the company's disclosure of the result of its consent solicitation related to changes in the notes' documentation.

Prospect News reported the results in a Dec. 14 story.

“We view the tender offer as a distressed debt exchange (DDE). Fitch has simultaneously upgraded the IDR to CC, reflecting DTEK Energy's post-restructuring profile with high default risk,” the agency said in a press release.


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