Obbligazioni valute high yield CRISI RUSSIA/UCRAINA discussioni, notizie e operatività

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Moodys

The downgrade of PrivatBank's LC deposit and FC senior unsecured debt ratings to Ca from Caa3, with a negative outlook, reflects the acute downside pressure on the bank's liquidity and capitalisation. The bank has to repay $200 million of senior unsecured bonds in September 2015. Although these bonds amount to only about 3% of the bank's total assets as of year-end 2014, the restructuring of Ukraine's government debt, coupled with the country's limited access to foreign exchange, may prompt PrivatBank to restructure these obligations as it confronts severe asset quality, capital and liquidity pressures.

The downgrade of the bank's FC subordinated debt rating to C from Ca is driven by the downgrade of the bank's standalone BCA to ca from caa3 and the structural subordination of these instruments which points to higher severity of losses than for senior debt in a default scenario.

The bank's FC deposit rating is affirmed at Ca, having been constrained previously at that level by the country's FC deposit ceiling of Ca.
 
Moodys

The downgrade of PrivatBank's LC deposit and FC senior unsecured debt ratings to Ca from Caa3, with a negative outlook, reflects the acute downside pressure on the bank's liquidity and capitalisation. The bank has to repay $200 million of senior unsecured bonds in September 2015. Although these bonds amount to only about 3% of the bank's total assets as of year-end 2014, the restructuring of Ukraine's government debt, coupled with the country's limited access to foreign exchange, may prompt PrivatBank to restructure these obligations as it confronts severe asset quality, capital and liquidity pressures.

The downgrade of the bank's FC subordinated debt rating to C from Ca is driven by the downgrade of the bank's standalone BCA to ca from caa3 and the structural subordination of these instruments which points to higher severity of losses than for senior debt in a default scenario.

The bank's FC deposit rating is affirmed at Ca, having been constrained previously at that level by the country's FC deposit ceiling of Ca.
se và in porto il nuovo aumento di capitale a giugno non hanno problemi a rimborsare il bond a settembre, ovviamente sperando che non si tratti di un bluff e che la situazione in Ucraina non peggiori
 
l'articolo non fà molta chiarezza, come molte delle informazioni che arrivano da Ucraina e Russia vanno prese con le pinze e tappandosi il naso, comunque qualcosa in più su Privat Bank si saprà presto e spero che non sia una conferma della distrazione di fondi verso consociata a Cipro perchè sarebbe un revival di Espirito Santo e a Pasqua non sarebbe bello.
 
Ukraine’s overall debt to Russia stands at $16 billion

Ukraine’s overall debt to Russia stands at $16.6 billion, Russian Prime Minister Dmitry Medvedev said Wednesday at a meeting with President Vladimir Putin dedicated to the situation around Ukraine. “Three billion dollars is Ukraine’s debt, the accumulated gas debt stands at $2.2 billion, and what we consider Russia's profit shortfall stands $11.4 billion, which brings the total sum to $16.6 billion,” Medvedev said.

TASS: Economy - Ukraine?s overall debt to Russia stands at $16 billion
 
Reuters

Yaresko says Ukraine to start debt talks once creditors form committee

(Reuters) - Ukraine is waiting to hear from creditors that they have formed a committee before talks can start on restructuring Ukrainian debt to plug a $15.3 billion funding gap, Finance Minister Natalia Yaresko said in a newspaper interview on Thursday. "We're waiting for an answer from them this week that they are ready and have created a committee ... so that we can hold concrete talks with them," Ukrainska Pravda's website quoted Yaresko as saying.
 
Ukrainian government approves framework for $15 billion debt-swap - Finance Minister

(Reuters) - The Ukrainian government approved on Saturday the framework for Ukraine's debt restructuring operation through which it aims to generate $15.3 billion (10 billion pounds), the Finance Ministry said in a statement. Ukraine is due to start talks on a fast-track debt swap with investors including Franklin Templeton, PIMCO and Blackrock as part of a $40 billion bailout approved with the International Monetary Fund last month.
The Finance Ministry reiterated that Kiev wants a deal in place by end-May, before the IMF carries out its June review. "As per the IMF Program, negotiations with creditors must be finalised by 1st review (in May 2015)," it said. It gave no new details on what terms Kiev would propose to investors in talks. Talks were expected to start last week, but on Wednesday creditors said Ukraine had yet to send the restructuring proposals to bondholders. The three targets of the debt operation are to generate $15.3 billion in savings, bring the public and publicly-guaranteed debt-to-GDP ratio under 71 percent by 2020 and keep the budget's gross financing needs at an average of 10 percent of GDP in 2019-2025, the Finance Ministry said. Ukraine has included all outstanding Eurobonds placed before February 2014 in the debt operation.
 

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