S&P upgraded Ukraine's credit rating to B- /B

The international rating agency S&P has upgraded the rating on long-term and short-term liabilities of Ukraine in foreign currency from SD /D (selective default) to B- /B. The sovereign rating of Ukraine on long-term and short-term liabilities in the national currency was raised from the pre-default ССС + /С to В- /В.

The agency's press release states that the rating change was caused by the completion of negotiations on the restructuring of the country's external commercial debt. In addition, S&P analysts indicated that the Ukrainian government is carrying out reforms aimed at creating tax, financial and economic stability, as well as improving a number of external indicators, including an increase in international reserves.

S&P, referring to the data of the Ministry of Finance of Ukraine, indicates that the country has managed to restructure $ 15 billion of external debt with a total write-off of 20%. Thanks to this, the financial needs of Ukraine in the next 4 years decreased by $ 8.5 billion.