On November 11, 2016, the international rating agency Fitch Ratings raised the long-term issuer default rating of Ukraine in foreign and national currency from “CCC” to “B-“.
The rating of the long-term prioritized unwarranted bonds of Ukraine in foreign and national currency was raised from “B-” to “CCC”; the rating of the short-term prioritized unwarranted bonds of Ukraine in foreign and national currency was raised from “B” to “C”.
The rating forecast is stable.
The threshold rating of Ukraine was raised from “CCC” to “B-”, short-term IDRs in foreign and national currencies were raised from “B” to “C”.
What is the advantage?
Now Ukraine can gain financial resources at more favorable terms on the global markets and can speed up its development. This is a positive sign for the state and for business.
“Ratings are really what investors look at with scrutiny. I can tell it based on my own experience, when I worked as an investment manager in New York and London. That is why we pay so much attention to our ratings, since investments are the basis of economic development, employment and prosperity”, Minister of Finance Oleksandr Danyliuk said.