Some of the key industry players have already started a voluntary debt restructuring.
According to The Financial Times, the Ukrainian corporate sector is completely cut off from the international capital markets.
The article says that the impact of macro-economic environment and military conflict here is huge.
Some of the key industry players have already started a voluntary debt restructuring, including the largest coal mining company Ferrexpo and steel producer "Metinvest," controlling half of the Ukrainian metal market (emitted bonds worth $ 500 million).
The article says that several companies have gone bankrupt and the situation will have the same trend if it is not changed.
The hryvnia has lost 50% of its value over the past six months. The factor makes it the least attractive currency in the world, which is harmful for Ukrainian companies buying dollars.
Finally, the authors of the article say the crisis is complicated by the lack of credit operations and low demand. The most important, however, is that foreign companies, supplying production, demand advance payment because of instability in Ukraine.
"Until there is risk of military conflict resumption, the situation will not be stable," – sums up the analyst.Source: Financial Times