Economy 2021-09-15T06:34:40+03:00
Ukrainian news
Moody's Upgrades Rating Of Ukraine From Caa2 To Caa1

Moody's Upgrades Rating Of Ukraine From Caa2 To Caa1

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Moody's, an international rating agency, has upgraded the rating of Ukraine from Caa2 to Caa1.

The international rating agency announced this in a statement, Ukrainian News Agency reports.

The international rating agency has changed the outlook for the rating of Ukraine from “Stable” to “Positive.”

The rating of Eurobonds Ukraine sold to the Russian government for USD 3 billion in December 2013 has been removed from the list of ratings.

The statement reads that the key drivers for Ukraine’s rating is agreement on continuation of the cooperation with the International Monetary Fund, the anti-corruption reforms, and gradual improvement of stability in Ukraine in the conflict with Russia.

The statement reads that Ukraine remains a country much depending on financing from the International Monetary Fund.

In compliance with the classification of the rating agency, the debt obligations with Caa rating are considered to have low quality and are subject to very high credit risk.

As Ukrainian News Agency earlier reported, in August 2017, Moody's upgraded Ukraine from Caa3 to Caa2.

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