Fitch affirms DTEK Energy

Fitch Ratings said it affirmed Ukraine-based DTEK Energy BV's long-term foreign-currency issuer default ratings at RD (restricted default).

The agency has also affirmed DTEK's dollar eurobond senior unsecured rating at C with a recovery rating of RR4 and an expected recovery of 50%.

“The affirmation reflects continued negotiation on the restructuring of the remaining portion of debt (about 11% of debt was still subject to restructuring at end-2018),” the agency said in a news release.

Fitch said that, once completed, it will likely upgrade DTEK's foreign and local currency issuer default ratings and the senior unsecured rating for the eurobond to B- to reflect the company's post-restructuring capital structure and business risk.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.