Fitch Announces Upgrading Ukraine’s Credit Rating
The agency explained that the decision reflects its view that Ukraine has restored relations “with a substantial majority of its external commercial creditors.”
On December 19, the European Union approved a new €90 billion ($105.9 billion) loan for Ukraine, which would only need to be repaid under favorable conditions.
“This would cover financing needs for more than a year, reducing near-term debt sustainability risks,” Fitch noted.
The agency also pointed out that it generally does not provide outlooks for sovereigns rated ‘CCC+’ or lower.
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