Page 55 - UKRRptDec18

affect the confidence of the public and investors. The hawks argued that a policy rate hike is needed to mitigate current inflation factors as worsened expectations, rising consumer demand, fast growth of wages and an unfavourable price situation at the external markets. The committee members agreed that a further key policy rate hike will follow should inflationary pressure increase.
8.3 International ratings
8.4 Fixed income
8.5.1 Fixed income - bond news
Ukraine - Rating agency
as of Jan 2018
Bond rating: Moodys
Caa2 (P)
Bond rating: Fitch
B- (S)
Bond rating: S&P
B- (S)
Ukraine’s Ministry of Finance has exercised its call option on an expensive $725mn Eurobond issued this August as bridge financing to get the government trough its repayments schedule this autumn. The ministry repaid the bond at a call price of 98.551% of par, the funclub.net Ukrainian news site reported on November 3.
British and American investors bought most of Ukraine’s recent $2bn Eurobond issue . British investors bought 41% of the 5-year bonds and 46% of the 10-year bonds, reports Ukraine’s Finance Ministry. Americans bought 46% of the 5-year bonds and 37% of the 10-year bonds. Europeans bought 12% of the 5-year bonds and 16% of the 10-year bonds.
Ukrzaliznytsia (Ukrainian Railway) may try to float bonds on the international capital market at the beginning of 2019 to raise funds to
55 UKRAINE Country Report December 2018 www.intellinews.com