UNI - EN REPORT No37/2013
In a press release dated November 12, 2013, Fitch Ratings downgraded the ratings of eleven Ukrainian corporates, including Kernel Holding S.A., following the agency’s recent downgrade of Ukraine’s sovereign rating. Kernel Holding S.A.’s Foreign Currency IDR was aligned with Ukraine’s sovereign and Country’s Ceiling of 'B-' (from 'B') and its Local Currency IDR was downgraded to 'B' from 'B+' with a Negative Outlook. The National Rating has been affirmed at 'AA+(ukr)'.
For a full text of the press release related to the rating update, please refer to the following link: Fitch Downgrades Ukrainian Corporates on Sovereign Action (http://www.fitchratings.com/creditdesk/press_releases/detail.cfm?pr_id=807730). The definition of capitalized terms and applicable research criteria can be accessed at Fitch’s Corporate Rating Methodology (http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=684460).