Long-term and short-term ratings of Ukraine under obligations in national currency improved from 'CCC + / C' to ‘B- / B’.
“This is the first step to return Ukraine to the international capital markets and facilitate the provision of funding from international financial institutions as well as export and credit agencies. It will also facilitate the provision of international finance to Ukrainian companies and banks,” the Ministry of Finance of Ukraine reported.
The S & P analysts predict the growth of Ukrainian economy by 2% in 2016, by 3,5% in 2017 and by 4% in 2018.
The change in rating to the better is certainly connected with the recent event: the negotiations with commercial creditors on restructuring the national debt.
Just a reminder: The decision to write off $3 bln and restructure $8,5 bln of Ukrainian debt was adopted by the majority votes of the creditors' committee.