Fitch adjusts ratings of corporate Eurobond issuers

Fitch Ratings cut its ratings for the Eurobonds of DTEK (DTEKUA), Naftogaz (NAFTO), MHP (MHPSA), Metinvest (METINV), Avangard (AVINPU), Ukrlandfarming (UKRLAN), Mriya (MRIYA) and Ferrexpo (FXPOLN) to the sovereign ceiling, B-, the agency reported on November 12.

Alexander Paraschiy: On November 8, Fitch downgraded Ukraine’s sovereign long-term rating to B- from B with a negative outlook – so the latest revision of corporate ratings is a logical step. We expect Fitch will next downgrade the ratings of Eurobonds issuers in Ukraine’s financial sector, namely Ukreximbank (EXIMUK), Privatbank (PRBANK) and Oschadbank (OSCHAD).