Fitch upgrades DTEK's IDRs to 'CCC' from 'RD' after restructuring of company's debt.

Fitch Ratings has upgraded Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) of DTEK Energy B.V. to 'CCC' from 'RD' (Restricted Default). The upgrade reflects Fitch's assessment of DTEK's post-restructuring capital structure.

Fitch also has assigned new $1.6 billion notes issued by DTEK Finance plc, a subsidiary of DTEK Energy B.V. a 'CCC'/'RR4' rating.

Fitch said that the outcome of the restructuring of one remaining bank loan (constituting less than 1% of total debt), which is still being negotiated, does not have any bearing on the rating due to its limited size and the company's ability to refinance this debt or transfer it to a related party outside the rated group.

As reported, DTEK Energy on May 17 completed the restructuring its loan portfolio, which provides for the conversion of the current issue of loan participation notes and the principal amount of bank debt in the amount of over $2 billion into new notes.

Interfax-Ukraine

News about recent political developments in Ukraine, key Ukrainian economic news and major current events in the CIS and the rest of the world.

https://en.interfax.com.ua/

Related news
Live: Jen Psaki holds White House press briefing

Live: Jen Psaki holds White House press briefing

White House press secretary Jen Psaki speaks to press. #FoxNews Subscribe to Fox News! Watch more Fox News Video: Watch Fox News Channel Live: FOX News Channel (FNC) is a 24-hour all-encompassing news service delivering breaking news as well as po...

‘Solar Power’: How Lorde Grew Up, Embraced Guitars and Made a Summer Song - Diary of a Song.

‘Solar Power’: How Lorde Grew Up, Embraced Guitars and Made a Summer Song - Diary of a Song.

Lorde used to hate guitars. Then came “Solar Power.” What changed? In the latest Diary of a Song, the 24-year-old musician traces the personal and sonic evolutions that led to her new aesthetic. Read the story here: [ ] Subscribe: More from The Ne...

Why New York Attorney General Did Not Bring Charges Against Cuomo.

Why New York Attorney General Did Not Bring Charges Against Cuomo.

Following the New York Attorney General's report that Governor Andrew Cuomo sexually harassed multiple women, NBC News' Rehema Ellis and Danny Cevallos analyze the investigation, why there were no charges brought and whether the governor could res...

Pentagon On Lockdown After Reports Of Gunshots Nearby.

Pentagon On Lockdown After Reports Of Gunshots Nearby.

The Pentagon announced a lockdown after there were reports of gunshots fired at a nearby metro station. Public transit is being diverted as a result of the lockdown. » Subscribe to NBC News: » Watch more NBC video: NBC News Digital is a collection...

McEnany predicts Cuomo won't resign following investigation findings.

McEnany predicts Cuomo won't resign following investigation findings.

'Outnumbered' panel discusses the potential of Governor Cuomo remaining in office and the legal implications of the investigation. Subscribe to Fox News! Watch more Fox News Video: Watch Fox News Channel Live: FOX News Channel (FNC) is a 24-hour a...

China's Wuhan city to test entire population after Delta virus surge resurfaces.

China's Wuhan city to test entire population after Delta virus surge resurfaces.

China's Wuhan city will test all 12 million residents for the coronavirus. That's after the place where it emerged in late 2019 confirmed its first domestic cases of the highly transmissible Delta variant. Wuhan had reported no local coronavirus c...