Moodys cuts DTEK bond rating to sovereign one

Moody’s Investors Service downgraded the corporate family rating of DTEK (DTEKUA) to B3 from B2 with a negative outlook, the agency reported on Dec. 10. Moody’s referred to increased sovereign risks as the key reason for the downgrade, in line with the demotions of earlier corporate Eurobond issuers. DTEK was the last Ukraine-based Eurobond issuer in Moody’s coverage whose rating and outlook were cut down to sovereign one.