Moody's upgrades rating of DTEK Energy B.V. to 'Caa2'
Moody's Investors Service has today upgraded the corporate family rating of DTEK Energy B.V. to Caa2 from Ca. The outlook on the rating is stable, according to a report on Moody's website.
Concurrently, Moody's has upgraded DTEK Energy's probability of default to Caa2-PD from Ca-PD.
"The rating action follows the change in outlook to positive in Februray 2017, and reflects the improvement of DTEK Energy's credit profile and increases in Ukraine's foreign-currency bond country ceiling since 2015," Moody's said.
The outlook on the rating is stable, reflecting Moody's expectation that DTEK Energy will achieve further reductions in debt and broadly stable FFO. The outlook also reflects the stable outlook on the Government of Ukraine.