KYIV, March 28 – Bank of America Merrill Lynch (BofA ML), given the increased political risks in Ukraine on the eve of the first round of the presidential election, believes that GDP-pegged warrants (VRI, Value Recovery Instruments) of the country are more preferable compared with eurobonds, seeing potential for more upside, according to an analytical report issued by the bank on Wednesday.

BofA ML said that the bank still keeps an overall constructive view on Ukraine longer-term, despite the current political uncertainty.