Fitch affirms Ukraine at ‘B-1’ with stable outlook

29.04.2017 13:21 1366

Fitch Ratings has affirmed Ukraine's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'B-' with a Stable Outlook.

This is stated in the agency's press release.

"We forecast [Ukraine’s GDP] growth to decelerate to 2% in 2017 before picking up to 3% in 2018 on the back of improving consumer demand and investment," the press release says.

The Country Ceiling has been affirmed at 'B-' and the Short-Term Foreign-Currency and Local-Currency IDRs at 'B'. 

In addition, the Stable Outlook reflects Fitch's assessment that upside and downside risks to the rating are currently balanced.

"Improved commodity export prices and increased export volumes from the agricultural sector should mitigate the increase in the trade deficit," the agency forecasts for 2017-2018.

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