Moody's ups ratings of three issuers in Ukraine

Moody's Investors Service said it upgraded to Caa1 from Caa2 the corporate family ratings and to Caa1-PD from Caa2-PD the probability of default ratings of three companies operating in Ukraine: Ferrexpo plc, Metinvest BV and MHP SE.

Concurrently, Moody's has upgraded the national scale corporate family ratings of Metinvest and MHP to Baa3.ua from B1.ua and the senior unsecured ratings of notes issued by Ferrexpo Finance plc to Caa1 from Caa2.

The outlook on the ratings of Metinvest and MHP has been changed to positive from stable. The outlook on the ratings of Ferrexpo plc and Ferrexpo Finance plc remains stable.

Moody’s said the rating action follows Moody's upgrade of Ukraine's government bond rating to Caa2 from Caa3, with a positive outlook, and raising of the foreign-currency bond country ceiling to Caa1 from Caa2 on Aug. 25.

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