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Ukraine ratings continue to improve
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28 October 2010
Effects of the International Monetary Fund (IMF) loans to Ukraine are impacting both international perspectives of Ukraine’s economic prospects – and government actions, geared to complying with the attached terms and conditions.
Earlier this month (October) Moody's Investors Service upgraded Ukraine's B2 government bond ratings to stable from negative.rnMoody's cited the Ukrainian government’s improved external liquidity following the new IMF 2.5 year US $15.1 bn stand-by agreement (SBA) and the successful US $2 bn eurobond issue in September as main contributory factors along with the narrowing of Ukraine’s significant balance-of-payments adjustment and recent resumption of economic growth.
Moody's has also improved Ukraine's B1 foreign currency bond ceiling and its B3 foreign currency deposit ceiling from negative to stable. rnrnDietmar Hornung, Vice President, Senior Credit Officer in Moody's Sovereign Risk Group and lead analyst for Ukraine was reported as saying, “A stronger external position along with the economic recovery has reduced Ukraine’s susceptibility to financial stress. The shift to a stable outlook on the government bond ratings reflects our view that the upside and downside risks at the current rating level are evenly balanced.”
Read the full article here:
UBI
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