Fitch affirms DTEK

Fitch Ratings said it affirmed DTEK Holdings Ltd.'s long-term issuer default rating of B+, short-term issuer default rating of B and national long-term rating of AA-(ukr), and placed them on positive outlook.

The agency said that DTEK had strong financial performance in FY07 and H108.

However, the agency noted that the company still has poor liquidity and a relatively short debt maturity profile.

DTEK intends to refinance its debt before FYE08, Fitch said, adding that if this refinancing is successful, the liquidity position and debt maturity profile of the company will improve substantially and put upward pressure on the rating.

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