Fitch Lifts Ukraine's Sovereign Ratings; Outlook Stable

(RTTNews) - Fitch Ratings on Friday upgraded the sovereign ratings of Ukraine citing easing external financing pressures.

The agency raised the rating to 'B-' from 'CCC' with stable outlook.

Fitch observed that international reserves increased notably due to bilateral and multilateral support, improvement in some export prices, greater domestic confidence and increased exchange rate flexibility.

Further, external debt repayments to multilateral and bilateral creditors were manageable, and external market debt amortisations resume only in 2019.

The macroeconomic policy framework has been strengthened through increased exchange rate flexibility and tight monetary policy, Fitch noted.

Although political risks remain significant, near-term political volatility has eased.