Moody's upgrades Ukraine's government bond rating

Source : 112 Ukraine

The reason for upgrading ratings from Caa1 to B3 was the IMF's approval of the stand-by program for Ukraine
16:06, 14 June 2020
The Moody's international rating agency has upgraded the rating of the long-term issuer and priority unsecured obligations of the Ukrainian government to B3 from Caa1. This is stated on the agency’s website.

The outlook on the ratings is stable. The reason for upgrading to B3 was the mitigation of problems with short-term financing of Ukraine and the guarantee of a decrease in its external vulnerability as a result of the approval of a new IMF financing program. The upgrade takes place also due to Moody's expectations that the new IMF program will help consolidate the reform progress made in recent years.
Related: Ministry of Justice earned over $4,000 on pay-to-stay detention centers in Ukraine

At the same time, Moody's affirmed $ 3 billion priority unsecured Eurobonds rating, which Ukraine sold in December 2013. The only buyer of these bonds was the Russian government. The deal is disputed due to the international armed conflict between the two countries. The Russian government has filed lawsuits against Ukraine in English courts demanding redemption of bonds.

The ratings assigned to Moody's long-term and short-term debt obligations are forward-looking estimates of the relative credit risks of financial liabilities of financial institutions or public sector entities. The level of credit risk, and therefore the likelihood of financial loss for investors depends on how well the issuer is able to fulfill its contractual financial obligations.
Система Orphus

If you find an error, highlight the desired text and press Ctrl + Enter, to tell about it

see more