OREANDA-NEWS. October 15, 2009. On 14 October, Fitch, the international rating agency, affirmed Ukraine's long-term foreign and local currency Issuer Default Ratings (IDRs) at ‘B' with a negative outlook. The short-term foreign currency IDR and the country's ceiling rating are affirmed at ‘B'. The main positive factors of the rating confirmation were the redemption of Ukraine's Eurobonds in August and September 2009 and a relatively low government debt to GDP ratio (23%) of Ukraine. Still, negative outlook was maintained due to unsatisfactory government policy, resulting in a low probability of receipt of the fourth tranche of the IMF loan.

Millennium Capital sees the news to be neutral, which should not affect the price of CDS of the domestic issuers. At the same time, Millennium Capital agrees on low probability of the IMF loan provision, since the main Fund requirements to cut down the State Budget Deficit are currently far from being fulfilled.

Millennium Capital is an integrated financial services provider. Established in 2000 by a group of professionals with solid background in securities and corporate finance, Millennium Capital is now one of tickets selling for its flights due to high arrearage to the creditors of the company.