Fitch downgrades 4 Ukrainian corporates, Ukraine national rating

Fitch Ratings announced on Friday that following the sovereign rating downgrade, it also cut the long-term foreign currency issuer default ratings of four Ukrainian corporates from ‘B’ to ‘B-‘: DTEK, Metinvest, Azovstal, and MHP. At the same time, the agency affirmed Stirol’s long-term foreign currency IDR at ‘B-‘ and Naftogaz of Ukraine’s long-term foreign currency IDR at ‘CCC’. Also on Friday, Fitch said that it cut Ukraine’s national long-term rating from ‘AA(ukr)’ to ‘AA-(ukr)’.