KERNEL (KER): FITCH UPGRADES KERNEL’S FOREIGN CURRENCY ISSUER DEFAULT RATING TWO NOTCHES ABOVE THE SOVEREIGN - raport 8
UNI - EN REPORT No8/2017
In a press release by Fitch Ratings, the agency upgrades Long-Term Foreign Currency IDR (LT FC IDR) of Kernel Holdings S.A. to ‘B+’, two notches above the sovereign LT FC IDR of ‘B-’, reflecting Kernel’s export-oriented business model, limited reliance on Ukrainian banking system and enhanced financial flexibility after refinancing its debt with a five-year USD 500 million Eurobond.
Fitch also upgraded Kernel’s National Long-Term Rating to ‘AAA (ukr)’ from ‘AA+ (ukr)’, assigning the National rating a ‘Stable’ Outlook.
For a full text of the press release related to the rating update, please refer to the following link: Fitch Upgrades Kernel's IDRs to 'B+'; Outlook Stable. The definition of capitalized terms and applicable research criteria can be accessed at Fitch’s Corporate Rating Methodology.