The agency said the International Monetary Fund program improves the chances for the policy measures in Ukraine that focus on stability. Standard & Poor's Ratings Services upgraded Ukraine's sovereign credit ratings Thursday after an International Monetary Fund lending program was approved, auguring changes that strengthened the Eastern European country's economic outlook. Read the story.

The agency had put the ratings on watch positive a week ago. Before that, Fitch Ratings boosted its grade on Ukraine by one notch earlier this month, moving it to B.

S&P's one-notch move to B+ on Ukraine's long-term foreign currency Thursday puts the rating one step higher than Fitch's and four notches below investment-grade status. S&P also raised the country's long-term local currency rating one step to BB-, one rung higher than the foreign-currency rating. The outlook is stable.

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