According to Interfax-Ukraine, Moody’s has changed the outlook on the Government of Ukraine’s ratings to positive from stable.
At the same time, Ukraine’s long-term issuer and senior unsecured ratings have been affirmed at Caa1, which, according to Moody’s classification, indicates a high credit risk.
“The affirmation of Ukraine’s Caa1 ratings reflects its — while showing signs of improvement — significant external vulnerability,” reads the agency’s review.
According to Moody’s, the key drivers for the change in the outlook to positive are:
Moody’s analysts also underline the need of continued market access in the context of significant external debt repayments due over the coming years in the absence of a new IMF program.
As reported earlier, S&P rating agency raised Ukraine’s foreign and local currency sovereign credit rating from B- to B.
Meanwhile, Fitch projects a 3.4% GDP growth in Ukraine in 2019 against 4.5% in Q2.
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