Daily monitor

BM Bank, the holder of Kyivmedpreparat’s three-year bonds, is planning to sue to the local court regarding the case of Kyivmedpreparat and its underwriter LLC “Arta Zennie Bumagi” over a bond buyout.

In November 2008, Nadra Bank [NADR UZ, N/R] was on schedule with the repayment of a USD 100 mln debut Eurobond issue and a USD 130 mln syndicated loan that it has acquired. The Eurobond issue, which was arranged by Dresdner Kleinwort Wasserstein and the UBS Investment Bank, was successfully placed in 2005 at a rate of 9.5%.

The Higher Administrative Court of Ukraine has refused to accept a complaint issued by CJSC Kyivstar GSM, requesting that the Court cancel a ruling by Kyiv Administrative Court of Appeals, issued in July 2008, regarding a case about the issuance of a license to use 2.1 GHz frequency bands for 3G mobile communications without using a tender-based process.

Fitch, an international rating agency, downgraded the Myronivskiy Khliboprodukt [MHPC LI, U/R] bond’s rating B in foreign currency from stable to negative. According to an official press release made by Fitch yesterday, the downgrading occurred as a result of the narrow focus of the company on the Ukrainian poultry market, coupled with possible problems with expansion plans for 2009.

The European Commission has acknowledged the compliance of Ukraine’s sunflower oil to European standards. The Commission inspected Ukraine’s oil producers in September. The results of the inspection were officially released yesterday by the Government of Ukraine. The Eurocomission admitted that Ukrainian state systems of prevention of oil contamination meets all European standards, which are defined in the Eurocommission decision # 2008/433.

The National Electricity Regulation Commission (NERC) retained its regulated electricity tariff for clients other than the general public at November’s level, which is UAH 436 (USD 65) per MW and UAH 585 (USD 87) per MW for large and small consumers respectively.

The Higher Administrative Court of Ukraine has refused to accept a complaint issued by CJSC Kyivstar GSM, requesting that the Court cancel a ruling by Kyiv Administrative Court of Appeals, issued in July 2008, regarding a case about the issuance of a license to use 2.1 GHz frequency bands for 3G mobile communications without using a tender-based process.

Fitch, an international rating agency, downgraded the Myronivskiy Khliboprodukt [MHPC LI, U/R] bond’s rating B in foreign currency from stable to negative.

The European Commission has acknowledged the compliance of Ukraine’s sunflower oil to European standards.

The National Electricity Regulation Commission (NERC) retained its regulated electricity tariff for clients other than the general public at November’s level, which is UAH 436 (USD 65) per MW and UAH 585 (USD 87) per MW for large and small consumers respectively.