Ukraine Leads Distressed Debt Rally as Poroshenko Election - Bloomberg

Ukraine Leads Distressed Debt Rally as Poroshenko Election - Bloomberg:



"Ukrainian corporate bonds helped lead the longest distressed-debt rally in more than a year among emerging markets as investors bet billionaire President-elect Petro Poroshenko will ease political tensions with Russia.



Notes sold by the eastern European nation’s riskiest companies rose 8.7 percent this month through yesterday, according to Bank of America Merrill Lynch’s Distressed Emerging Markets Corporate Plus Index. The measure’s 3.4 percent gain capped a four-month, 12.5 percent, winning streak, the longest since the period ended February 2013.



‘Chocolate King’ Poroshenko, 48, pledged to visit eastern regions to end fighting with separatists, after Russia annexed the Black Sea peninsula of Crimea in March. The International Monetary Fund has meted out $3.2 billion in aid as part of a $17 billion loan to help Ukraine pay its debt, as the nation had its rating cut to nine levels below investment grade by Moody’s Investors Service."



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