The Fitch Ratings international rating agency has affirmed the long-term default rating of the issuer Ukraine in foreign currency at CC.
Ukrainian News Agency learned this from a statement of the agency.
The confirmation of the rating reflects Fitch's expectations for further restructuring of commercial debt before the end of the two-year break in Eurobond payments in September 2024.
The agency suggested that servicing external sovereign debt will grow to USD 7.6 billion in 2025.
At the same time, Ukraine is likely to prefer a single comprehensive debt restructuring next year.
In addition, Fitch confirmed the CCC default rating of the issuer in national currency.
Higher rating than debt in foreign currency reflects more serious obstacles to debt restructuring in national currency, given that only 4% belong to non-residents, while 48% - to the National Bank of Ukraine and 38% - to Ukrainian banks, in particular, half - to the state ones.
As Ukrainian News Agency earlier reported, in January of this year, Fitch Ratings affirmed the long-term default rating of the issuer Ukraine in foreign currency at CC.
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