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S&P upgrades Ukraine's rating from 'B-' to 'B'

Earlier Fitch Ratings has upgraded the Long-Term Foreign-Currency Issuer Default Ratings (IDRs) of seven Ukrainian banks from 'B-' to 'B'
17:28, 28 September 2019
Open source
 
The international S&P Global Ratings agency raised Ukraine's long-term sovereign ratings in foreign and national currencies from “B-” to “B”, with stable outlook. This report was published on the rating agency website.

"The new government seems committed to maintaining macroeconomic stability, liberalizing the economy and providing a new program together with the International Monetary Fund (IMF)," the message reads.

According to analysts, the forecast reflects their expectations that the new authority of Ukraine will maintain macroeconomic reforms in recent years, while the economy is recovering, and total public debt in relation to GDP is declining.
 
Related: Economic Freedom rating: Ukraine takes 135th place


Earlier it was reported that
Fitch Ratings has upgraded the Long-Term Foreign-Currency Issuer Default Ratings (IDRs) of seven Ukrainian banks from 'B-' to 'B'. The Outlooks are Positive, as the message on the Fitch Ratings website says.

The affected banks are: JSC State Savings Bank of Ukraine (Oschadbank) (Oschad), JSC The State Export-Import Bank of Ukraine (Ukreximbank) (Ukrexim), JSC CB Privatbank (Privat), Public Joint-Stock Company Joint Stock Bank Ukrgasbank (UGB), PJSC Credit Agricole Bank (CAB), Procredit Bank (Ukraine) (PCBU), Pravex-Bank JSC (PXB).

Fitch has also affirmed the Long-Term Foreign-Currency IDR of Ukraine's JSC Alfa-Bank (ABU) at 'B-'with Stable Outlook.

"Fitch has also placed the Viability Ratings (VRs) of all the above eight banks on Rating Watch Positive (RWP). The RWP reflects Fitch's expectations that the improving macroeconomic stability in Ukraine, the country's reasonable economic prospects and further stabilisation in the sovereign's credit profile should have positive implications for the banks' standalone credit profiles (SCPs). Our view of the operating environment in Ukraine also factors in recovering performance of the banking sector, improved solvency levels and lower refinancing risks. We plan to resolve RWP in a portfolio review of Fitch-rated Ukrainian banks during the next six months,: the message says.

Related: Kyiv ranked 13th in Global traffic jams rating 2018

 
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