Fitch Ratings has affirmed Ukraine’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B-‘. The Outlook is Stable, Fitch has said in a press release. In addition, Long-Term Foreign-Currency IDR affirmed at ‘B-‘; Outlook Stable; Long-Term Local-Currency IDR affirmed at ‘B-‘; Outlook Stable; Short-term foreign-currency IDR affirmed at ‘B’; and Short-term local-currency IDR affirmed at ‘B’. Country Ceiling affirmed at ‘B-‘.
Ukraine’s ratings balance weak external liquidity, a high public debt burden and structural weaknesses, in terms of a weak banking sector, institutional constraints and geopolitical and political risks, against improved policy credibility and consistency, the sovereign’s near-term manageable debt repayment profile and a track record of bilateral and multilateral support.
