Fitch Ratings, an international rating agency, has affirmed Ukraine's long-term foreign-currency issuer default rating (IDR) at 'B-'.
Fitch Ratings announced this in a statement, Ukrainian News Agency reports.
The outlook for the rating is Stable.
The statement reads that the continuation of the cooperation of Ukraine with the International Monetary Fund is likely to mitigate the short-term financial risks linked with the higher payments on redemption of the sovereign debts starting in 2019.
On October 19, 2018, Ukraine and the IMF agreed at the level of the personnel on a 14-month Stand-By Arrangement (SBA) which will replace the Extended Fund Facility program affective since March 2015.
The Verkhovna Rada has adopted the first reading of the Cabinet of Ministers' bill on the state budget for 2019 with the budget deficit of 2.3% of GDP. The bill on state budget for 2019 envisages a 23-percent increase in the gas price for households.
Fitch Ratings expects the board of the IMF to officially endorsed the Stand-By Arrangement after the adoption of the law on the state budget of Ukraine for 2019.
The 14-month SBA envisages payment SDR 2.8 billion (equivalent of USD 3.9 billion).
As Ukrainian News Agency earlier reported, Fitch Ratings says the support of the International Monetary Fund is a key factor of Ukraine's solvency.
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