AVANGARDCO INVESTMENTS PUBLIC LIMITED (LSE: AVGR) (the “Company” or “Avangard”), the leading producer of shell eggs and egg products in Ukraine, announces that Fitch Ratings affirmed the Company’s Long-term foreign and local currency Issuer Default Ratings (IDRs) at ‘B’. Fitch has also affirmed the Company’s National Long-term Rating at ‘A+(ukr)', foreign currency senior unsecured rating at 'B' and Recovery Rating at ‘RR4’. The Outlooks for the Long-term ratings are Stable.

Avangard's assigned Long-term IDRs reflect its average business risks and concentration on one product line (poultry/eggs). This factor is mitigated by partial vertical integration (mainly into fodder production) and by the opportunities derived from increasing market shares in the Ukrainian industrial eggs market, considering high penetration of egg consumption per capita  and from export markets.