Ukraine’s credit rating may be cut if the government fails to unfreeze the International Monetary Fund’s stalled lending program, said Fitch Ratings. “Getting the IMF deal back on track would reduce refinancing risk, boost investor confidence and so underpin continuing market access,” said Charles Seville, the director of Fitch Ratings’s sovereign group, today in an e-mailed statement. Without the program, “there is a risk that reserves continue to fall, and the hryvnia depreciates in a disorderly fashion, which would likely trigger a downgrade.”
