KIEV, Aug. 16 – The transfer of a state stake in Kremenchuk-based UkrTatNafta from Naftogaz Ukrayiny to the State Property Fund could have negative consequences for Naftogaz Ukrayiny, according to Maria Maiboroda, an analyst fixed-income instruments with Troika Dialog Ukraine.

"We believe that this news is very bad for Naftogaz Ukrayiny. The company now is actively preparing for the heating season and is trying to overcome the crisis of non-payments, and at present its liquidity is not very high," she said.