Research Reports

  • 06.30.15 Fixed Income

    Ukrainian sovereigns continued to show a volatile performance in the environment of restructuring talks, with quotes for actively-traded Ukraine-17s j...> read more

  • 06.22.15 Fixed Income

    Ukrainian sovereigns slid sharply last week, with benchmark Ukraine-23s losing 5.4% to 51.5/53.0 (20.0%/19.4%) amid the real possibility that the Fina...> read more

  • 06.15.15 Fixed Income

    Ukrainian sovereigns lost ground despite a strong start last week, after Finance Minister Natalia Jaresko again pointedly told bondholders that the go...> read more

  • 06.08.15 Fixed Income

    Quotes for Ukrainian sovereign Eurobonds advanced last week, reflecting a generally positive IMF staff statement after the first review under the USD ...> read more

  • 06.04.15 Financials

    Ukrainian banks have found themselves caught in a trap of deteriorating asset quality following the dramatic devaluation of the hryvnia that occurred ...> read more

  • 06.02.15 Agriculture

    Kernel managed to expand its EBITDA by 54% YoY in 3Q15 (Jan­Mar’15) to USD 115mn. The main drivers were a 4­year high crushing margin of USD 278/t in ...> read more

  • 06.02.15 Fixed Income

    Ukrainian sovereign Eurobonds rose last week thanks to improved sentiments after the country sold USD 1.0bn US-backed bonds. Meanwhile, Ukrainian Fina...> read more

  • 05.27.15 Agriculture

    MHP increased its EBITDA by 16% YoY to USD 123mn in 1Q15, driven mainly by lower SG&A and other operating costs, as gross profit grew by only 5%. MHP ...> read more

  • 05.25.15 Fixed Income

    Quotes for Ukrainian sovereign Eurobonds ended lower last week, although only moderately so, as issues recovered most of their initial losses after th...> read more

  • 05.18.15 Fixed Income

    Ukrainian sovereign Eurobonds ended mixed last week after the Finance Ministry and a creditor group led by Franklin Templeton accused each other of st...> read more