Companies & Finance

Fitch upgrades Naftogaz to B- from CCC

Fitch has raised its rating for Ukrainian state-owned Naftogaz Ukrainy from CCC to B- with a stable outlook
By Staff reporter 12 April 2018 0 30410

Fitch has raised its rating for Ukrainian state-owned Naftogaz Ukrainy from CCC to B- with a stable outlook, Interfax reported on Wednesday.

Fitch indicated the company’s recent financial improvements and the favourable Stockholm arbitration ruling as the main reasons behind the decision.

Naftogaz plans to enter the eurobond market in 2018.