16:11 26.08.2017

Moody's upgrades Ukraine's credit rating to Caa2 with 'positive' outlook

Moody's upgrades Ukraine's credit rating to Caa2 with 'positive' outlook

The Moody's Investors Service rating agency has upgraded Ukraine's ratings in Ukrainian and foreign currency from Caa3 to Caa2 with a "positive" outlook.

The press service of the Cabinet of Ministers of Ukraine said Prime Minister of Ukraine Volodymyr Groysman, commenting on the agency's decision, stressed this is a testament to the success of structural reforms in Ukraine.

"The key factors in the credit rating change upwards are the effect of structural reforms and the strengthening of Ukraine's position in the world market. According to financial experts' forecasts, the continuation of changes will improve the debt dynamics of our state," the head of government said.

The premier stressed there is much work ahead in the political stability sector, the continuation of economic reforms, the strengthening of the foreign exchange rate and the overall strengthening of the economy.

According to him, the success of reforms, in particular at the macro level, will help cope with the forecasted debt load of 2019 and the subsequent years when Ukraine will have to repay the debts of the previous periods.

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