KIEV, March 11 - Fitch Ratings has downgraded DTEK Energy B.V.'s (DTEK) Long-term Issuer Default Rating to 'RD' (Restricted Default) from 'C', as Fitch understands from management that the company is in the payment default under several bank loans due to uncured expiry of the grace period on some bank debt.

DTEK told Interfax-Ukraine that the company continues the negotiations on debt restructuring to foreign creditors with the involvement of one of the leading international consultants – Rotschild.

"The company is in permanent dialog with eurobond holders and bank-creditors. DTEK Energo is holding talks aimed at balancing the financial possibilities of the company to service credits. We hope to finish the negotiations in 2016," the company said in a press release.