Standard & Poor's Global Ratings confirmed Ukraine’s sovereign credit ratings, both long-term and short terms ones, at the "B-/B" level with a stable forecast, as the press release of the agency informs, Interfax reported.
“Although Ukraine has not received funding within the International Monetary Fund program since March 2017, we expect the new one to be approved till the end of 2018. We think that the new agreement with IMF will help Ukraine to pay debts, repayments of which begins next year, and at the same time, to conduct sound macroeconomic policy in the year of presidential and parliamentary elections,” the agency reports.
The stable forecast also points at the fact that, according to the analysts, the current program of IMF expanded funding will be over preschedule. It will be replaced by a new program for 14 months to stabilize Ukraine ’s macroeconomic policy in 2019.
“B” marks in the ratings of the international agencies mean that the issuer is financially reliable, but it is also under a risk in an unfavorable economic environment.
Reportedly, on October 19, IMF and Ukraine concluded an agreement on a 14-month program of support of economic policy stand-by (SBA), which is to replace the program of expanded funding (EFF), approved in March 2015 (it ends in March 2019).
Earlier, Fitch Ratings confirmed long-term sovereign ratings of Ukraine’s issuer default in foreign and local currency at the "B-" level with a stable forecast.