Earlier, the Fitch agency announced the rating increase.
The rating agency S&P Global Ratings improved its long-term credit rating of Ukraine in foreign currency to CCC+, the forecast is stable. This is stated in a message on the company's website. Previously, the rating of our country was set at the default level of “SD”.
The decision to improve the forecast was made by S&P in connection with the completion of the restructuring of Eurobonds of Ukraine. The government agreed with bondholders on a two-year postponement of payments on sovereign securities for a total of $22.6 billion and state-guaranteed Eurobonds for $1.5 billion. will be reduced by approximately 40% – to $10 billion instead of the previously planned $16 billion. This amount is mainly Ukraine's debt to the IMF and the International Bank for Reconstruction and Development, as well as domestic loan bonds,” the message reads.
At the same time, the agency emphasizes that due to the war, Ukraine's ability to fulfill its debt obligations depends to a large extent on factors beyond the government's control.
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As reported, on August 13, international rating agencies S&P and Fitch downgraded Ukraine's foreign currency ratingsdue to problems with the restructuring of the country's debt.
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August 18 Fitch raised Ukraine's long-term credit rating in foreign currency from “RD” (limited default) to “CC” (probable default).
