OREANDA-NEWS. In a press release dated March 5, 2013, Fitch Ratings affirmed Luxembourg-based Kernel Holding S.A.'s (Kernel) Long-term foreign and local currency Issuer Default Ratings (IDRs) at 'B' and 'B+', respectively.

 Reflecting the location of most of Kernel’s operations in Ukraine, Kernel’s foreign currency IDR is constrained by Ukraine’s country ceiling rating of ‘B’. Fitch has also affirmed Kernel's National Long-term rating of 'AA+'(ukr). The Outlooks for the Long-term IDRs and National Long-term rating are Stable.