Moody's upgrades Ukraine's sovereign rating
Ukrinform
Rating agency Moody's Investors Service has upgraded Ukraine's government issuer rating to Caa3 from Ca, according to a report on the Moody's website
It is noted that Moody's raised the sovereign rating of the Ukrainian government due to the settlement of the restructuring of USD15 billion debt, and the progress in political and economic reform under the auspices of the IMF-led programme, supporting a rebalancing of the economy and a meaningful reduction in public and external financial deficits.
Besides, Ukraine’s rating outlook was changed to stable from negative.
As a reminder, the Fitch rating agency upgraded Ukraine’s long-term foreign currency issuer default rating from RD to CCC. Fitch also upgraded the long-term issuer default rating in foreign currency of the city of Kyiv from RD to CCC.
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