“Fitch” Upgrades Ukrainian Railways’ Credit Rating to “B”

Friday, July 23, 2021
“Fitch” Upgrades Ukrainian Railways’ Credit Rating to “B”

On July 23, the international agency "Fitch" approved the credit rating "B" of the largest state railway carrier "Ukrzaliznytsia"

According to the Fitch service, the rating of Ukrzaliznytsia determines the invest.com/investing-in-ukraine/business-opportunities/long-term-business/" rel="dofollow">long-term risk of default of the company, with a stable outlook.

"We believe the company is in a position sufficient to meet its projected debt service needs in the second half of 2021 and 2022," Fitch said.

The overall rating is also affected by the fact that UZ shares belong to the Government of Ukraine, which is ready to support the company. UZ notes that all commitments are fully fulfilled and direct funds from the issuance of bonds to repay short-term debt, including refinancing of Sberbank loans, bonds in the amount of $50 million payable on September 15, 2021, and other credit obligations.

Also on June 16, 2021, the rating agency Standard & Poor's rated the credit rating of Ukrzaliznytsia as "positive".

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