OREANDA-NEWS. November 2, 2010. Fitch Ratings has assigned Mriya, a leading agricultural producer in Ukraine, Long-term foreign and local currency Issuer Default Ratings (IDRs) of 'B-' each, the outlook on the Long-term IDRs is stable, the agency announced Nov 1.  Fitch has also assigned Mriya's planned USD300m notes an expected rating of 'B'.

We deem this news as NEUTRAL for the company as a whole and its fixed income in particular. The rating newly assigned does not correspond to the sovereign one of “B” that is triggered by above-average business risks, due to the strong cyclicality and seasonality of agricultural commodities. We also anticipate a swift Eurobonds issue given the practice of the agency to assign ratings to the notes on the eve of their placement.