OREANDA-NEWS. In a press-release Fitch Ratings affirmed Kernel Holding S.A. long-term foreign and local currencies IDR at 'B' and 'B+' respectively. The Outlooks for both ratings were revised to Negative from Stable following the agency's revision of Ukraine's sovereign rating Outlook to Negative from Stable on June 28, 2013. The long-term foreign currency rating of Kernel Holding S.A. remains constrained by Ukraine's country ceiling of 'B'. National long-term rating was affirmed at 'AA+(ukr)'; Outlook Stable.

Kernel is one of the largest agribusiness companies in Ukraine and an emerging player in Russia, with extensive operations across the entire supply chain.

Kernel operates in production, refining, bottling and marketing of bulk and bottled sunflower oil, both internationally and domestically, as well as in farming, origination, handling and international marketing of grain and oilseeds. As an agricultural products supply chain manager, we operate an extensive asset base with the largest silo network in Ukraine, oilseed crushing plants across the sunflower belts in both Ukraine and Russia, and deep-water export terminals on the Black Sea for food commodities. Our upstream operations include one of the largest landbanks in the world, located in the fertile and water-rich regions of Ukraine. Our business model is supported by leading positions in all our segments, an experienced team of professionals and prudent risk management.