Fitch upgrades Mriya notes to B

Fitch Ratings said it upgraded Mriya Agro Holding plc's long-term foreign and local currency issuer default ratings to B from B-.

The agency also upgraded Mriya's national long-term rating to A-(ukr) from BBB+(ukr) and its $250 million senior unsecured notes due 2016 to B from B- with a recovery rating of RR4.

The outlook on the long-term issuer default ratings and national long-term rating is stable.

The agency also affirmed the short-term foreign and local currency issuer default ratings at B.

Fitch said the upgrades reflect Mriya's demonstrated consistent growth and profitability as well as expected moderate leverage even after substantial investments in fixed assets in 2012.

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