International rating agency Fitch Ratings following the change in forecast of Ukraine's ratings to "positive" from "stable" respectively, raised the forecast on ratings of Ukrainian companies, including the Kernel Holding SA., "Kernel Group", OJSC "MHP" and its holding company MHP SA

According to press release from the agency included their revised forecasts for long-term issuer default rating (IDR) in foreign currency and conducted ssrating actions:

For MHP SA: long-term foreign currency IDR is affirmed at "B", the forecast changed from "stable" to "positive." Rating remains constrained by the sovereign ceiling of Ukraine "B"; long-term local currency IDR is affirmed at "B +", outlook "stable", its unsecured foreign currency rating is affirmed at "B", Recovery Rating "RR4". Existing bonds have joint guarantee for the priority of several subsidiaries of the group, including MHP, an intermediate holding company of the group.

For MHP (a subsidiary of MHP SA (99,9%)): long-term foreign currency IDR is affirmed at "B", the forecast changed from "stable" to "positive." Rating remains constrained by the sovereign ceiling of Ukraine "B".
Long-term local currency IDR is affirmed at "B +", outlook "stable." National long-term rating is affirmed at "AA + (ukr)", forecast "Stable".

For Kernel Holding SA: long-term foreign currency IDR affirmed at "B", the forecast changed from "stable" to "positive." Rating remains constrained by the sovereign ceiling of Ukraine "B" Long-term local currency IDR is affirmed at "B +", outlook "stable." National long-term rating is affirmed at "AA + (ukr)", forecast "Stable".

UkrAgroConsult