Research Reports

  • 03.27.14 Metals and Mining

    While the 25% YtD devaluation in Ukraine’s hryvnia in 2014 bodes well for export­oriented Ferrexpo, this will not be sufficient to offset a projected ...> read more

  • 03.24.14 Fixed Income

    Ukrainian sovereign Eurobonds rebounded sharply last week as investors shifted their focus from the country’s de-facto loss of its southern Crimea pro...> read more

  • 03.17.14 Fixed Income

    High regional tensions between Ukraine and Russia ahead of this weekend’s secession referendum in Crimea pushed quotes for Ukrainian Eurobonds to thei...> read more

  • 03.13.14 Macroeconomics

    An International Monetary Fund team arrived in Kyiv on Mar 4 to collect information and start working on a loan program which could amount to as much ...> read more

  • 03.06.14 Financials

    Raiffeisen Bank Aval reported a net profit of UAH 730mn (USD90mn) for FY13, implying a return on equity of 10.3%. The bank’s P/E ratio for 2014E curre...> read more

  • 03.03.14 Fixed Income

    Ukrainian sovereign Eurobonds ended the week firmly higher as market players bet on the country’s ability to get immediate financial support from the ...> read more

  • 02.24.14 Fixed Income

    Ukraine’s sovereign Eurobonds experienced a wild ride last week, first gaining sharply on Monday (Feb 17) on the promise of a USD 2bn cash injection f...> read more

  • 02.17.14 Fixed Income

    Ukraine’s sovereign Eurobonds sold off heavily again last week, with the yield on the benchmark long-term issue rising above 10% amid an apparent stal...> read more

  • 02.10.14 Fixed Income

    Ukraine’s sovereign Eurobonds ended generally higher last week, helped by suggestions that Western countries might step in with an aid package to repl...> read more

  • 02.03.14 Fixed Income

    Ukraine’s sovereign Eurobonds lost more ground last week despite a 1-day jump on Tuesday (Jan 28) following the resignation of Prime Minister Nikolay ...> read more