Analyst: “…we expect that its February results will be weaker due to halted operations at Yenakiyeve Steel since Feb. 20. But this factor won’t prevent the holding from generating enough free cash flow for all its creditors in 2017. So we are keeping a positive view on Metinvest bonds, which are now trading at 93% of par.”
“This means that companies may now grant restricted stock or restricted stock units to employees in Ukraine and issue the shares or an equivalent cash payment (at grant or at vesting) into a non-Ukrainian bank or brokerage account.”
Analyst: “The company’s operating cash flow remained in the red during 2016, and it might take another two to three years before the company manages to stabilize its free cash flow. At this stage, we abstain from rating Mriya’s Eurobonds.”
Analyst: “For 2016, Avangard continued to freeze operating cash flow in working capital. Nonetheless, it has enough cash to service company debt this year.
ANALYTICAL REPORT: by Oleg Ustenko, Julia Segura, Valentyn Povroznyuk, Edilberto L. Segura for the SigmaBleyzer multinational private equity firm & The Bleyzer Foundation (TBF), Kyiv, Ukraine
Published by the U.S.-Ukraine Business Council (USUBC), Washington, D.C., Thu, Mar 23, 2017
Analyst: “Since we did not consider the trade blockade initially, we are adjusting our 2017 forecast slightly to 1.9% yoy from 2.1% yoy estimated previously.”
The sanctions have been imposed on the following banks: Sberbank, VTB Bank, Prominvestbank, BM Bank and VS Bank.