Due to a systemic crisis in the energy sector of Ukraine, Fitch downgraded DTEK RES Akhmetov

Rating Agency Fitch downgraded the credit rating of DTEK renewables (Department of DTEK asset management in renewable energy) from “b” to “B-” with a negative Outlook.

Из-за системного кризиса в энергетике Украины, агентство Fitch понизило рейтинг ДТЭК ВИЭ Ахметова

About it reports a press-service of the company — reports Hvylya, citing League Business.

Reasons for the revision of Fitch rating calls the systemic crisis and the lack of further reforms in the energy sector, the instability of the calculations and the debts of the produced green electricity from SE “Guaranteed Buyer” that adversely affect financial condition and liquidity of the company.

At the end of may the arrears of SOEs to DTEK renewables reached 1.8 billion UAH without VAT.

Other important factors are the lack of decisions regarding changes in legislation revision of the size of the “green” tariff and the General deterioration of the economic situation in Ukraine amid the pandemic coronavirus.

If the situation with payments will not change financial condition of the company will be even more weakened, which may lead to a further downgrade, the Agency said.

Decrease of rating indicators of renewable energy reflects the crisis in the renewable energy sector in Ukraine, the company said.

In a similar difficult conditions are all renewable energy investors, according to the DTEK.