| POLISH FINANCIAL SUPERVISION AUTHORITY | |||||||||||
| UNI - EN REPORT No | 8 | / | 2017 | ||||||||
| Date of issue: | 2017-02-22 | ||||||||||
| Short name of the issuer | |||||||||||
| KERNEL HOLDING S.A. | |||||||||||
| Subject | |||||||||||
| FITCH UPGRADES KERNEL’S FOREIGN CURRENCY ISSUER DEFAULT RATING TWO NOTCHES ABOVE THE SOVEREIGN | |||||||||||
| Official market - legal basis | |||||||||||
| art. 56. 1. 2 of Act on Public Offering. | |||||||||||
| Unofficial market - legal basis | |||||||||||
| Contents of the report: | |||||||||||
| In a press release by Fitch Ratings, the agency upgrades Long-Term Foreign Currency IDR (LT FC IDR) of Kernel Holdings S.A. to ‘B+’, two notches above the sovereign LT FC IDR of ‘B-’, reflecting Kernel’s export-oriented business model, limited reliance on Ukrainian banking system and enhanced financial flexibility after refinancing its debt with a five-year USD 500 million Eurobond. Fitch also upgraded Kernel’s National Long-Term Rating to ‘AAA (ukr)’ from ‘AA+ (ukr)’, assigning the National rating a ‘Stable’ Outlook. For a full text of the press release related to the rating update, please refer to the following link: Fitch Upgrades Kernel's IDRs to 'B+'; Outlook Stable. The definition of capitalized terms and applicable research criteria can be accessed at Fitch’s Corporate Rating Methodology. | |||||||||||
| Annexes | |||||||||||
| File | Description | ||||||||||
| (fullname of the issuer) | |||||||||||||
| (short name of the issuer) | (sector according to clasification of the WSE in Warsow) | ||||||||||||
| (post code) | (city) | ||||||||||||
| (street) | (number) | ||||||||||||
| (phone number) | (fax) | ||||||||||||
| (e-mail) | (web site) | ||||||||||||
| (NIP) | (REGON) | ||||||||||||
| SIGNATURE OF PERSONS REPRESENTING THE COMPANY | |||||
| Date | Name | Position / Function | Signature | ||
| 2017-02-22 | Anastasiia Usachova Yuriy Kovalchuk | Directors | |||
