Fitch affirms DTEK

Fitch Ratings said it affirmed DTEK Holdings Ltd.'s long-term foreign-currency issuer default rating at B and DTEK Finance BV's foreign-currency senior unsecured rating at B with a recovery rating of RR4.

The outlook is stable.

The company's long-term foreign-currency issuer default rating is capped by Ukraine's country ceiling, while its long-term local-currency issuer default rating and national ratings are currently unconstrained and are rated above the sovereign, Fitch said.

The ratings reflect the comparatively stable, vertically integrated nature of DTEK's business, the agency said.

The ratings also consider its leading positions in the Ukrainian coal mining, thermal power generation and distribution sectors, its competitive operating profile and cost position compared to its Ukrainian peers, Fitch added.

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