Moody’s raises MHP rating to B2

Moody’s Investors Service announced on June 16 it has
raised the corporate family rating for poultry producer MHP (MHPSA, MHPC LI) to
B2 from B3, while at the same time downgrading its outlook to Stable from
Positive. The agency noted that MHP’s rating upgrade follows its upgrade of Ukraine’s sovereign rating on June 12,
adding that MHP’s metrics are adequately positioned for its new B2 rating.
Also, the agency said MHP will work towards improving its net debt-to-EBITDA
ratio to a level below 3.0x and maintain its EBITA-to-interest expense ratio
above 2.0x.

Andriy Perederey: The agency adjusted MHP’s rating in accordance with our expectations for a further upgrade if Ukraine’s sovereign
rating was raised. Moody’s MHP rating is now one notch lower than Fitch’s
(B+/Stable) and at the same level with S&P (B/Stable).