Page 49 - UKRRptApr21

expects to increase dividend payouts by 2.6x in 2021 due to growing revenue fuelled to rising chicken prices, said Denis Belyi, an analyst at Freedom Finance. “Due to the resumption of growth in world prices for chicken meat, the 2021 financial year reflect a positive outcome for MHP agricultural holding, which is expected to increase its dividend payments by 2.6 times compared to 2020 - to $0.75 per share” said Belyi speaking to participants at the Prospects for the Development of the Stock Market in Ukraine webinar.
8.4 International ratings
Ukraine - Rating agency
as of May 1, 2018
last change
Moodys (USD rating)
Caa1 (S)
21/12/18
Fitch (USD rating)
B- (S)
22/7/16
S&P
B- (S)
25/9/15
Ukraine’s credit ratings have been improving but the country is still rated junk by the three main agencies.
The international rating agency S&P Global Ratings has confirmed the long-term sovereign ratings of Ukraine in foreign and national currency on the global scale at "B" level, ratings on the national scale at "uaA" and short-term ratings at "B", the outlook for long-term ratings is stable. "Ukraine's growth, balance of payments and public finances exceeded our expectations in 2020. The adequacy of reserves has improved, which provides protection against possible adverse external events, including further delays in the payment of concessional loans," the agency explained the rating confirmation on Saturday night. At the same time, S&P noted that epidemiological considerations continue to pose a serious risk.
Moody’s rates Ukraine at Caa1 with stable outlook on its foreign currency debt. The local debt is also rated at Caa1.
Moody’s last upgraded Ukraine from Caa2 (Positive) in August 2017 as the country emerged from an economic meltdown that year. The lowest rating the country had was Ca (Negative) in March 2015 in the wake of the Euromaidan protests that ousted president Viktor Yanukovych. The highest the country has scored was B1 (positive) in August 2008 as the entire region boomed before the global financial crisis struck that autumn.
Fitch rates Ukraine at B- on its foreign currency debt with no outlook indicated. The local debt is also rated at B- (none).
Fitch has become more cautious on Ukraine having removed its positive outlook call in December 2018. But the ratings have general recovered from Fitch “restricted default” rating in October 2015, following the Maidan events. The highest rating the country has had from Fitch was a BB- (positive) first awarded in May 2005 and again in October 2006, during a year-long investment frenzy when foreign banks bought up banks in the country believing the country was about to take off.
49 UKRAINE Country Report April 2021 www.intellinews.com