Fitch upgrades Ukrzaliznytsia's credit rating outlook.

Fitch Ratings international rating agency has affirmed the credit rating of Ukrzaliznytsia JSC, (Ukrainian railways) at "B" and improved the rating outlook from stable to positive.

That’s according to the company's press service.

The improvement of Ukrzaliznytsia's credit rating forecast became possible after the forecast of Ukraine's sovereign rating was changed from "Stable" to "Positive."

"One of the priority tasks is to bring Ukrzaliznytsia to the highest level of trust among international partners. To this end, we will work to reduce the company's loan portfolio and increase Ukrzaliznytsia’s revenue base," said Acting Chairman of the Board, Oleksandr Kamyshin.

Read also: Ukrzaliznytsia intends to buy electricity directly from nuclear operator Energoatom

Ukrzaliznytsia recalls that in July 2021, Fitch Ratings affirmed Ukrzaliznytsia's credit rating at "B" with a Stable Outlook, removing it from the Rating Watch Negative (RWN).

As Ukrinform reported earlier, on August 6, 2021, Fitch Ratings revised the forecast of the long-term issuer default rating (IDR) of Ukraine in foreign currency from “Stable” to “Positive” and confirmed the IDR at "B."

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