The Supervisory Board (SB) of Ukrzaliznytsia (UZ) has received a request from the Temporary Acting Chairman of the Management Board, Ivan Yuryk, to be released from this assignment.

Given the significant improvement in Ukrainian Railways’ liquidity, one of the leading rating agencies Standard & Poor's upgraded the company's credit rating to CCC+, outlook Stable. Primarily, agency decision is driven by the successful issuance of USD 300 million in five-year loan participation notes and refinance of company’s current debt obligations.

Against the backdrop of significantly improved liquidity, one of the leading rating agencies, Fitch Ratings, affirmed the Ukrainian Railways credit rating at 'B' with a Stable Outlook, removing its ratings from Rating Watch Negative (RWN).

Ukrainian Railways is going to improve environmental, social and corporate governance (ESG) reporting. Ukrainian Railways, as a socially responsible company in the process of improving its credit qualities, is going to develop regular environmental, social and corporate governance reporting.

Following meetings with investors and pricing, Ukrainian Railways is the first post-pandemic quasi-sovereign company to raise USD 300 million funding by issuing Reg S senior unsecured loan participation notes with a maturity of 5 years. This was announced by Ivan Yuryk, Acting Chairman of the Management Board of Ukrainian Railways.