Fitch gives new Naftogaz bond final rating of 'B'

Fitch Ratings issued a statement yesterday stating that it assigned Naftogaz of Ukraine’s new USD 1.6 bln Eurobonds due in 2014 with a coupon of 9.5% a final rating of ‘B’. The recovery rating on the Eurobonds is ‘RR4′. Naftogaz’ long-term foreign and local currency issuer default ratings are ‘CCC’ with a negative outlook.