S&P Global Upgrades Ukraine's Foreign Currency Rating

WASHINGTON (UrduPoint News / Sputnik - 20th August, 2022) S&P Global raised Ukraine's foreign Currency rating to "CCC+" from "Selective Default," the agency said in a press release.

"On Aug. 19, 2022, S&P Global Ratings raised its foreign currency long- and short-term sovereign credit ratings on Ukraine to 'CCC+/C' from 'SD/SD' and the long-term issue rating on the restructured foreign currency bonds to 'CCC+' from 'D'," the release said on Friday.

The agency said Ukraine completed its distressed debt restructuring and it has categorized the country as having a stable outlook, mostly due to the reduction in Ukraine's government debt service requirements and the expectation the county will have steady international financial support against risks stemming from the ongoing conflict.

S&P Global will publish its next rating on Ukraine's sovereign rating on September 9, the release said.