Ukraine Rating Raised to B- by S&P on Debt Exchange, Reform Plan
- Risk of another default has diminished on commitment to reform
- Country's outlook is stable assuming economic change continues
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Ukraine’s credit rating was lifted to B- from SD, or selective default, at Standard & Poor’s after the government reached a restructuring agreement with the majority of its creditors, enabling a bond exchange next month and reforms of the war-torn country’s economy.
S&P lifted Ukraine’s sovereign rating to six levels below investment grade on Monday after cutting it to default status last month when it was negotiating the restructuring deal with a Franklin Templeton-led creditor committee. The nation’s credit outlook is stable as it pursues fiscal, financial and economic reforms as part of the debt relief program, S&P said. It’s rated Ca by Moody’s Investors Service and RD (restricted default) by Fitch Ratings.