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Economy and politics
March 17, 2010
Industrial production up 5.6% YoY in February
Ukraine’s industrial output grew by 5.6% in February 2010 YoY. However, it lost 0.7% compared to January 2010, mostly, due to the 5.3% MoM decline in mining activity.
Economy and politics
March 17, 2010
S&P increases ratings for a series of Ukrainian companies
Standard & Poor's Ratings Services upgraded the ratings and prospects of a list of Ukrainian companies. In particular, there was an upgrade in a long-term credit rating of AR Crimea, Dnipropetrovsk, Ivano-Frankivsk and Luhansk from CCC+ to B- with a “positive” outlook. The long-term rating of Kyiv was confirmed at the CCC+ level, while the outlook was upgraded to “stable”. Lviv and Odesa ratings remained at the level of CCC+ with a “negative” outlook. S&P also improved the outlook of Kredobank and Alfa Bank (Ukraine) from “negative” to “stable” with a CCC+ ratings.
Economy and politics
March 16, 2010
Merchandise trade deficit totals USD 314 mln in January
The merchandise trade balance saw a USD 314 mln deficit in January 2010, compared to the USD 396 mln surplus in January 2009. Monthly exports grew by 24% YoY to USD 3.0 bln, while imports increased 63% YoY to USD 3.3 bln.
Electricity
March 16, 2010
DNEN’s 2010 CapEx at 55% of planned investment
Dniproenergo [DNEN UZ] plans to make UAH 291 mln (USD 36 mln) in capital investments in 2010, which is 55% of the UAH 528 mln stated in the Company’s annual investment plan. The top priorities are re-equipment at the ninth unit of the Prydniprovska FFPP, reconstruction of the third unit at Kryvyi Rih FFPP, and the construction of ash dumps.
Agriculture
March 16, 2010
Sintal launches elevator construction
Sintal Agriculture [SNPS GR, U/R] a major grain producer in Ukraine has announced a launch of construction works on its grain elevator in Kharkiv region. Preparatory works related to the laying of the foundation has been completed, while the elevator equipment will be delivered in April by US-based Global Industries Inc. The elevator with 115 thsd tonnes capacity should be constructed by the end of 2010, while the first line of 50 thsd tonnes is expected by August 2010.
Agriculture
March 16, 2010
Kernel to finish construction of Bandurka OEP in 2010
Kernel Group [KER PW, HOLD] has announced its plans to finish construction of Bandurka multi-seed oil extracting plant (OEP) in 2010. The daily processing capacity of the plant is 1.5 thsd tonnes of sunflower seed, 1.1 thsd tonnes of soybean and 0.9 thsd tonnes of rapeseed. The modern equipment installed should enable the Company to produce sunoil and cake of a highest quality in line with international standards. Firstly scheduled for construction by the end of 2009 the project was delayed to 2010.
Metals and Mining
March 15, 2010
Yasynivka Coke posts 2009 USD 10.3 mln net income:NEUTRAL

According to information published in the agenda for the Yasynivka Coke [YASK UK] AGM, the Company’s 2009 net income is USD 10.3 mln (UAH 82.6 mln), which is down 68.4% YoY.

Agriculture
March 15, 2010
Astarta to boost sugar output by 42% to 320 thsd tonnes

The Astarta Holding [AST PW, BUY], a major sugar and grain producer in Ukraine, has announced its plans to increase sugar output in 2010 by 42% to 320 thsd tonnes, compared to 225 thsd tonnes in the 2009/2010 season.

Agriculture
March 15, 2010
Ukraine faces risk that 13% of winter crops may be lost

The Ukrainian Weather Center (Ukrhidrometcentr) has forecasted losses amounting to 13% of winter crops due to unfavorable weather conditions. It also stated that, on average, the annual loss of winter crops is at 9-10% in Ukraine.

Economy and politics
March 15, 2010
S&P increases Ukrainian sovereign rating

Standard & Poor's Ratings Services upgraded the foreign-currency sovereign credit rating for Ukraine from 'CCC+/C' to 'B-/C'. Standard & Poor's also raised its local-currency sovereign credit rating for Ukraine from 'B-/C'to 'B/B'. The outlook on the ratings was upgraded to positive.

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