“Fitch Ratings has affirmed Ukraine’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at ‘B’. The Outlook is Positive,” reads the statement on the agency’s website.
As noted, the Positive Outlook reflects Fitch’s expectation that continued engagement with the IMF under a new multi-year programme will help support a sustained reduction in refinancing risks by facilitating access to additional external financing (official and market), entrench improved macrofinancial stability and fiscal sustainability, and reduce the scope for reform reversals.
“Ukraine has made significant progress in obtaining legislative approval for a series of reforms that if effectively and credibly implemented, could help address structural weaknesses that weigh on growth prospects and institutional quality,” the analysts note.
In September 2019, Fitch Ratings upgraded Ukraine’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) to ‘B’ from ‘B-‘.
