OREANDA-NEWS. July 27, 2011. Fitch Ratings has revised DTEK Holding Limited Outlook to Positive from Stable, following the agency's rating action on Ukraine's sovereign ratings (see "Fitch Revises Ukraine's Outlook to Positive; Affirms at 'B''' dated 21 July, 2011 on www.fitchratings.com). Ukraine's Long-term foreign and local currency Issuer Default Ratings (IDRs) were affirmed at 'B' and Short-term foreign currency IDR at 'B'. Ukraine's Country Ceiling was affirmed at 'B'.
 
The rating actions are as follows:
 
DTEK Holding Limited
 
Long-term foreign currency IDR: affirmed at 'B'; Outlook revised to Positive from Stable. The rating remains constrained by Ukraine's Country Ceiling of 'B'.
 
Short-term foreign currency IDR: affirmed at 'B'
 
Long-term local currency IDR: affirmed at 'B+'; Outlook revised to Positive from Stable
 
Senior unsecured foreign currency rating: affirmed at 'B'; Recovery Rating of 'RR4'.
 
Short-term local currency IDR: affirmed at 'B'
 
National Long-term rating: affirmed at 'AA+ (ukr)'; Outlook Stable
 
National senior unsecured rating: affirmed at 'AA+ (ukr)'
 
The ratings reflect DTEK's leading positions in the Ukrainian coal mining, thermal power generation and distribution sectors, its competitive operating profile and cost position compared to its Ukrainian peers as well as its long-term debt structure following USD500m Eurobonds issuance in April 2010.