Comment: Ukrainian eurobond market as of 12 April

April 13, 2017 - Cbonds

 

Svitlana Rusakova, Head of Proprietary Department, Dragon Capital (Cyprus) Limited:

With liquidity remaining low, the sovereign curve fluctuated around unchanged levels yesterday. GDP warrants were very heavy as it seemed nobody was willing to bid. This was quite a change compared to about two weeks ago when the warrants traded at around 40. Two-way flows were seen in quasi-sovereign banks and DTEK.
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Cbonds page: Ukraine
Issuer profile:

Ukraine is a country in Eastern Europe. It has an area of 603,628 sq km, making it the largest country entirely within Europe. The country is home to 45.4 million people.

Outstanding issues:
29 issuesUSD22,945,455,000
1 issuesEUR141,320,000
280 issuesUAH588,043,560,000
Issuer rating:
RIA RatingD/Sovereign ratings10/09/2015
Dagong CreditCC/NegativeInternational scale rating (foreign curr.)07/17/2015
Dagong CreditCC/NegativeInternational scale rating (local curr.)07/17/2015
Organisation for Economic Co-operation and Development (OECD)7/Country Risk Classifications06/24/2016
Moody's Investors ServiceCaa3/StableLT- foreign currency11/19/2015
Moody's Investors ServiceCaa3/StableLT- local currency11/19/2015
S&P Global RatingsB-/StableForeign Currency LT10/19/2015
S&P Global RatingsB-/StableLocal Currency LT10/19/2015
S&P Global RatingsuaBBB-/LT National Scale (Ukraine)10/19/2015
Fitch RatingsB-/StableLT Int. Scale (foreign curr.)04/28/2017
Fitch RatingsB-/StableLT Int. Scale (local curr.)04/28/2017
Fitch RatingsWithdrawn/National Scale (Ukraine)09/02/2011
Rating Agency RAEX (Expert RA)Withdrawn/Foriegn curr. scale07/04/2016
Rating Agency RAEX (Expert RA)Withdrawn/Local curr. scale07/04/2016
National Rating AgencyiSD/NegativeGlobal scale09/30/2016