Moody's confirms DTEK

Moody's Investors Service said it confirmed the B2 long-term corporate family rating of DTEK Holdings Ltd.

The outlook is negative.

The confirmation concludes the rating review initiated by Moody's on Dec. 17.

According to the agency, the rating confirmation reflects (i) DTEK's demonstrated success in renewing the short-term credit facilities that matured over the past quarter; (ii) the expected solid 2009 financial performance despite adverse macroeconomic development and significant electricity consumption decrease; and (iii) a stabilizing political situation after the January presidential elections in Ukraine that moderated risk of any major disorderly economic developments or a steep foreign exchange fall.

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