Fitch lowers 7 Ukraine companies

Fitch Ratings said it downgraded the ratings of seven Ukrainian companies following the downgrade of the sovereign ratings of Ukraine.

The downgrades reflect the ongoing heightened uncertainty regarding the political and economic situation in the Ukraine, which may ultimately threaten the companies’ ability to meet both their foreign- and local-currency obligations.

The downgraded ratings include Avangardco Investments Public Ltd.’s long-term local-currency issuer default rating to CCC from B-. Its long-term foreign-currency issuer default rating was affirmed at CCC, along with its foreign-currency senior unsecured rating at CCC with recovery rating of RR4.

Kernel Holding SA’s long-term local-currency issuer default rating was downgraded to CCC from B- and its long-term foreign-currency issuer default rating was affirmed at CCC.

Metinvest BV’s long-term local-currency issuer default rating was downgraded to CCC from B-, along with its short-term local-currency issuer default rating to C from B. Its short-term foreign-currency issuer default rating was affirmed at C, along with its long-term foreign-currency issuer default rating at CCC and foreign-currency senior unsecured rating at CCC with recovery rating of RR4.

MHP SA’s long-term local-currency issuer default rating was downgraded to CCC from B- and its long-term foreign-currency issuer default rating was affirmed at CCC, along with its foreign-currency senior unsecured rating at CCC with recovery rating of RR4.

OJSC Myronivsky Hliboproduct’s long-term local-currency issuer default rating was downgraded to CCC from B- and its long-term foreign-currency issuer default rating was affirmed at CCC.

OJSC Creative Group Public Ltd.’s long-term local-currency issuer default rating was downgraded to CCC from B- and its long-term foreign-currency issuer default rating was affirmed at CCC.

Ukrlandfarming plc’s long-term local-currency issuer default rating was downgraded to CCC from B- and its long-term foreign-currency issuer default rating was affirmed at CCC, along with its foreign-currency senior unsecured rating at CCC with recovery rating of RR4.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.