The international rating agency Fitch Ratings has downgraded the credit rating of JSC "Ukrzaliznytsia" from "CCC" to "C" against the backdrop of downgrading the sovereign rating of Ukraine. The company's Standalone Credit Profile is set at CCC. The Company continues to conscientiously fulfill all obligations to international financial institutions.
Thus, on July 22, 2022, Fitch Ratings downgraded Ukraine's foreign currency credit rating to "C" from "CCC", which was the result of the planned transfer of the maturity of Eurobonds announced by the government of Ukraine.
Ukrzaliznytsia said that the company continues to fulfill its financial obligations, and in early July, regular coupon income payments were made to holders of Eurobonds with a maturity date in the total amount of about 36 million US dollars. Thus, Ukrzaliznytsia fully fulfilled its financial obligations to bondholders.
Also, the press service of the operator noted that the methodology of the rating agency provides for a clear relationship between the sovereign rating of Ukraine and the quasi-sovereign company - Ukrzaliznytsia JSC.
“Ukrzaliznytsia continues to implement an effective and balanced policy to meet the needs of the state, citizens and businesses in safe transportation in times of war, and is also a reliable partner and conscientious payer for all obligations,” the press service of the company said.