The international rating agency Moody’s Investors Service has upgraded the sovereign rating of Ukraine in national and foreign currencies to “Caa1” from “Caa2.”
The rating outlook changed from “positive” to “stable,” the agency said.
“Our credit view of Ukraine highlights a stabilized low-growth economy, gradual reform progress, large FX debt burden and dependence on official funding to cope with external vulnerabilities,” it said on its website.
The rating on the eurobonds issued during the debt restructuring campaign in 2015 was confirmed at “Ca.”
