KERNEL (KER): FITCH UPGRADES KERNEL’S ISSUER DEFAULT RATING ON SOVEREIGN ACTION - raport 33

UNI - EN REPORT No33/2016

On 17 November 2016 Fitch Ratings upgraded Long-Term Local Currency IDR of Kernel Holding S.A. to ‘B’, one notch above the Sovereign, reflecting Kernel’s export-oriented business model and limited reliance on Ukrainian banking system.

In addition, Kernel’s Long-Term Foreign Currency IDR remains constrained by Ukraine’s Country Ceiling of ‘B-’.

Fitch also affirms Kernel’s National Long-Term Rating at ‘AA+ (ukr)’, with a ‘Stable’ National rating Outlook.

For a full text of the press release related to the rating update, please refer to the following link: Fitch Upgrades Ukraine's Kernel on Sovereign Action. The definition of capitalized terms and applicable research criteria can be accessed at Fitch’s Corporate Rating Methodology.

Source:https://www.fitchratings.com/site/pr/1014925