Fitch affirms Ukraine's B-rating with stable outlook

Source: Xinhua| 2018-10-29 21:39:17|Editor: mmm
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KIEV, Oct. 29 (Xinhua) -- The credit rating agency Fitch Ratings has affirmed Ukraine's long-term foreign-currency issuer default rating at "B-" with a stable outlook, local media reported Monday, citing the agency's report.

In its report, Fitch said that weak external liquidity, high external financing needs, the weak banking sector, the unresolved conflict in the country's eastern regions, as well as geopolitical and political uncertainties pose the main risks to Ukraine.

At the same time, the agency noted that improving macroeconomic stability, declining government debt, and continuing international aid, including the engagement with the International Monetary Fund (IMF), are expected to mitigate the risks.

On Oct. 19, the IMF said it has reached a staff-level agreement with Ukrainian authorities on economic policies for the 14-month Stand-By Arrangement (SBA). The SBA is set to replace the Extended Fund Facility (EFF), under which Ukraine has received about 8.7 billion U.S. dollars since 2015.

Earlier this month, Standard and Poor's rating agency has maintained Ukraine's credit ratings at B-/B and kept the outlook at stable.