Fitch raised "Naftogaz" rating after increasing Ukraine's sovereign rating
15:46, 26 November 2015

Fitch raised "Naftogaz" rating after increasing Ukraine's sovereign rating

Operational deficit of "Naftogaz" will stay high

15:46, 26 November 2015

112 Agency

"We upgraded long-term issuer default rating of Ukraine's national oil and gas company "Naftogaz Ukrainy" in foreign currency from ‘CC’ to ‘CCC’ level” - says in the message of the International ratings agency Fitch.

"These rating actions continued the upgrade of Ukraine's sovereign rating level from ‘RD’ to ‘CCC’, - says the message.

At the same time in Fitch think that the operational deficit of "Naftogaz" will stay high as the internal gas tariffs, especially for heat generation companies, still do not cover the price level for imported gas.

Earlier, October 6, Fitch lowered rating of Ukraine in foreign currency to ‘RD’ level (restricted default) . Also the agency lowered from level of "C" to "RD" long- and short-term issuer default ratings of Ukraine in foreign currency.

Related: EBRD granted $300 mln loan to Ukraine for gas purchase - Naftogaz

Related: Naftogaz to buy 2 bln cubic meters of Russian gas

Related: Russian "Gazprom" filed lawsuit against "Naftogaz Ukraine"

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