Fitch raises Ukraine’s LTFC rating to ‘CCC’
As stated in the assessment, the upgrade reflects the agency’s view that Ukraine has restored working relations “with a substantial majority of its external commercial creditors.”
The decision also follows recent financial backing agreed by European partners. On December 19, the European Union approved a new €90 billion ($105.9 billion) loan package for Ukraine, structured so that repayment would be required only under favorable conditions.
"This would cover financing needs for more than a year, reducing near-term debt sustainability risks," the agency said.
The statement also noted that outlooks are generally not issued for sovereign borrowers rated at ‘CCC+’ or lower.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
