According to the official information released by S&P rating agency, Mriya rating was improved from “negative” to “stable”. Long-term credit rating of the company remained unchanged at “B-“ as well as the long-term rating of debt return in case of default. Mriya’s rating review was the result of review of Ukraine’s credit rating review, on December 26, 2013, as the outlook for the country was also changes from “negative” to “stable”.

Agency stated that Ukraine is considered to be more reliable as a potential lender, which lowers risks of the country to implement foreign currency regulations, which would lead to Mriya’s inability to pay on its liabilities in foreign currency. Further issues on macroeconomic level that result into lower ratings for Ukraine will lead to lower credit ratings for Mriya as well.

Author: Alex Morgun, Financial Analyst, UkrAgroConsult