Fitch affirms Ukraine at B
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Fitch Ratings has affirmed Ukraine’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) at ‘B’ with a Stable Outlook.
It is noted that the ratings of Ukraine reflect its credible macroeconomic policy framework that had lowered inflation and narrowed fiscal deficits prior to the coronavirus shock, and a record of multilateral support.
“The coronavirus shock has at least temporarily reversed Ukraine’s improvements made in recent years in terms of a declining debt burden, normalization of growth prospects after the 2014-2015 geopolitical and economic crises, and reduced growth volatility,” reads Fitch Ratings’ report.
Fitch estimates that Ukraine has met close to 68% of its 2020 fiscal financing needs of USD 23.5 billion.
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