Fitch assigns DTEK’s upcoming bond issue expected AA-(ukr) rating

Fitch Ratings announced yesterday it assigned the Donbas Fuel Energy Company’s (DTEK) prospective local bond issue an expected national senior unsecured local currency rating of AA- (ukr). DTEK hasn’t yet declared the bond issue volume and coupon rate. Proceeds from the bonds are expected to be used for capital expenditures. The bonds will be an unsecured obligation of DTEK, guaranteed by DTEK’s four major operating subsidiaries (Eastenergo, Tehrempostavka, Pavlohrad Coal and Komsomolets Donbasa (SHKD: SELL).