OREANDA-NEWS. Fitch Ratings has today assigned Ukraine-based OJSC Myronivsky Hliboproduct ("MHP"), the country's leading farmer and processor of poultry, local and foreign currency Issuer Default ratings ("IDR") of 'B', both with Stable Outlooks.

At the same time Fitch has assigned MHP a senior unsecured rating of 'B'. In addition a National Long-term rating of 'A (ukr)' with a Stable Outlook is assigned.

The ratings reflect MHP's virtually unchallenged position as Ukraine's major supplier of industrially produced meat to the country's population. MHP enjoys a head-start in the development of local brands for poultry and prepared meats, and has demonstrated the benefits of operating through a fully vertically integrated business model.

However, Fitch also notes the relatively short track record of the group, which was founded in 1998, and its still strong reliance on the management abilities and decisions of its founding shareholder.