Moody’s drops DTEK, bond to Caa3

Moody's Investors Service said it downgraded DTEK Energy BV’s corporate family rating to Caa3 from Caa2 and probability of default rating to Caa3-PD from Caa2-PD.

The agency also downgraded the senior unsecured bond ratings of DTEK Finance BV and DTEK Finance plc, fully owned finance subsidiaries of DTEK, to Caa3 from Caa2.

All outlooks remain negative.

Moody’s said the downgrade reflects the increasing liquidity risk DTEK is facing over the next 12 months owing to its exposure to Ukraine's weak operating environment and the high foreign currency risk.

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