Poroshenko on Moody's rating: Ukraine not to swerve from path of radical reform

Poroshenko on Moody's rating: Ukraine not to swerve from path of radical reform

The upgrade by the Moody's rating agency of Ukraine's credit rating has shown that the state has chosen the path of radical reform, President Petro Poroshenko has said. 

"I am convinced that Ukraine has chosen the path of radical transformations and will not swerve from it," he wrote on his Facebook page.

According to him, the main factors outlined in a Moody's report are structural reforms, in particular, in the gas sector, reform of public procurement, changes to taxation and VAT management, and, most importantly, a powerful transformation of the banking sector.

"The rating agency noted the NBU's achievements in the growth of reserves by more than three times over the past three years, as well as the stabilization of the exchange rate," Poroshenko said.

As reported, Moody's Investors Service upgraded Ukraine's government from Caa3 to Caa2 and changed the rating outlook from stable to positive. 


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