Fitch Upgrades Ukrainian Corporates on Sovereign Action
OREANDA-NEWS. July 09, 2010. Fitch has upgraded the ratings of six Ukrainian corporate Eurobond issuers, following the agency's rating action on sovereign on July 6. DTEK, Metinvest, Azovstal, MHP were lifted to B from B-, while Naftogaz was affirmed at CCC.
Millennium Capital sees this news as positive for the corporate bonds. The rating upgrade will make it easier for the companies to issue new Eurobonds to finance their expansion.