Fitch Ratings Affirmed BB- for Ukraine

Fitch Ratings announced it affirmed Ukraine’s BB- long-term issuer default rating with a positive outlook and B short-term IDR. Fitch said rising inflation and risks in the banking sector prevented an upgrade. However, Fitch said that Ukraine’s credit fundamentals are improving thanks to intense growth, supported by rising foreign and domestic investment. The agency also cited WTO entry and the low level of public debt (12.5% of GDP) as positive news.