The Ukrainian economy is as stable as in a cemetery, default is unlikely – Fitch has upgraded its rating
The international rating agency Fitch raised on Friday, November 11, the long-term issuer default rating of Ukraine in foreign and national currencies from the pre-default level “CCC” to the level “B-”.
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Fitch Ratings reports this.
The agency's press release also notes that the forecast for the Ukrainian economy is now “stable.”
It is noted that the rating of bonds issued in foreign and national currencies of Ukraine was also raised from the level of “CCC” to “B-“, the rating of the country ceiling was raised to the level of “B-“, the short-term IDR in local and foreign currencies was raised from the level of “C” to “ B".
Almost a year ago, on November 18, 2015, Ukraine’s rating was upgraded from RD (limited default) to pre-default CCC. In May 2016, Fitch confirmed it at this level.
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