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S&P upgraded Ukraine’s credit rating

Date: October 2, 2022 Time: 19:45:46

S&P upgraded Ukraine’s credit rating from SD/SD to CCC+/C

The S&P rating agency has upgraded Ukraine’s credit rating. It is reported by TASS.

It should be noted that Ukraine’s short-term and long-term foreign currency sovereign credit ratings have been changed from SD/SD to CCC+/C. The long-term issue rating of the restructured currency bonds has been changed from D to CCC+. The outlook for the long-term ratings is stable.

As explained in the agency, Ukraine has completed the restructuring of the problematic debt. However, the ability to serve it remains vulnerable and depends on favorable economic conditions. Thus, Kyiv restructured Eurobonds in the amount of 22.6 billion dollars, as well as state-guaranteed Eurobonds in the amount of about 1.5 billion dollars. This was due to the agreement of the required majority of bondholders to defer the payment of interest on the principal for two years.

Earlier, international rating agency Fitch upgraded Ukraine’s long-term foreign currency issuer default rating to CC from DR. This is also due to the fact that Ukraine’s Eurobond holders have accepted the restructuring of foreign debt.

Source: lenta.ru

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