Fitch affirms Ukraine’s Long-Term Foreign-Currency Rating at ‘B-

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International rating agency Fitch Ratings has affirmed Ukraine’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B-‘ with a Stable Outlook, writes Ukrinform. “Fitch Ratings has affirmed Ukraine’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B-‘ with a Stable Outlook,” reads the statement on Fitch Ratings website.

As noted, Ukraine’s ratings balance weak external liquidity, high external financing needs driven by sovereign external debt repayments, a weak banking sector, institutional constraints and political risks in relation to peers, against improved policy credibility and consistency, improving macroeconomic stability, declining government debt and a track record of bilateral and multilateral support.

“Timely compliance with the new IMF programme is key to facilitate external financing, support progress in macroeconomic stability and mitigate vulnerabilities,” the statement reads. As reported, international rating agency Moody’s upgraded Ukraine’s rating to Caa1 from Caa2.

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