Thursday, June 12
Fitch has upgraded its rating of Ukrzaliznytsya to B-, with a stable outlook
Tuesday, November 6, 2018
Fitch has upgraded its rating of Ukrzaliznytsya to B-, with a stable outlook. The upgrade from CCC to Ukraine’s level was due to the removal of Donetsk Railway debt from a cross default due to the government’s moratorium on servicing this debt. Noting that the state railroad has to pay off $300 million in Eurobonds next year, Concorde Capital’s Alexander Paraschiy writes: “The company will have to work hard to attract financing in early 2019.”
