Fitch Ratings has affirmed Ukrzaliznytsia's Long-Term Issuer Default Rating (IDR) at 'B' and removed it from Rating Watch Negative (RWN). The Outlook is Stable. The removal of RWN reflects the improvement of Ukrzaliznytsia's immediate liquidity, following the maturity extension of a bank loan from Sberbank ($200 million) by three years to July 2023.