Fitch Affirms Ukraine's Rating At "B " With Stable Outlook
International rating agency Fitch Ratings affirmed Ukraine's long-term foreign currency issuer default rating (IDR) at "B " with a stable outlook.
"Ukraine's IDR " B "reflects its track record of multilateral support and a solid macroeconomic policy framework that maintains a relatively high degree of resilience to the shock of the coronavirus, " the agency said in a statement Friday night.
Fitch indicated that Ukraine's human development potential indicators compare favorably with comparable countries in terms of rating, net external creditor position is close to 13% of GDP, and general government debt is slightly below the median value for the level "B ".
At the same time, Ukraine's weaknesses include a weak level of governance, a high degree of legislative and judicial risk for the implementation of policies, and low external liquidity compared to high requirements for servicing sovereign external debt.
"As for the Russian-Ukrainian conflict, in our opinion, significant progress in its settlement in the near future is unlikely, " - noted in Fitch.