Moody’s Investors Service has upgraded the Government of Ukraine’s long-term issuer and senior unsecured ratings to B3 from Caa1. The outlook on the ratings is stable, Moody’s said in a report.
According to the report, the main driver of the decision to upgrade the ratings to B3 is the easing of Ukraine’s near-term funding challenges and the safeguards afforded to recent improvements in its external vulnerability as a result of the announced new financing programme with the International Monetary Fund (IMF)
The decision to upgrade the ratings also reflects Moody’s expectation that the new IMF programme will help anchor the reform progress achieved in recent years, Moody’s said.
