Corporate Ukraine Rocked by Mriya Missed Debt Payment - Bloomberg:
"Ukrainian businesses are being punished by bond investors after restructuring plans by Mriya Agro Holding Plc sparked an exodus from the market.
Dollar-denominated company Eurobonds tumbled 6.2 percent in the two days through Aug. 4, the worst loss among 55 nations in the Bloomberg Dollar Emerging Market Corporate Bond Index. Securities due April 2018 from Ternopil, Ukraine-based Mriya led the selloff with a 44 percent drop after the farming group said on Aug. 1 it had missed debt payments and was seeking to revamp its business.
Fighting between government troops and pro-Russia rebels in eastern Ukraine is deepening the country’s recession and driving up companies’ costs as the hryvnia depreciates. The sovereign bonds fell for a third day yesterday as the military said Russia had massed 45,000 soldiers on its border, while Ukrainian troops advanced on rebel strongholds Luhansk and Donetsk."
'via Blog this'
No comments:
Post a Comment