Fitch pulls Ukraine’s rating up to ‘B’

Fitch Ratings upgraded Ukraine’s sovereign long-term foreign and local currency issuer default ratings from ‘B-’ to ‘B’, with stable outlooks. Fitch affirmed Ukraine’s short-term foreign currency IDR at ‘B’ and bumped up the country ceiling from ‘B-’ to ‘B’.  The upgrade follows Ukraine’s new USD 14.9 mln loan agreement with the International Monetary Fund. Fitch also increased the long-term issuer default ratings of eight Ukrainian banks from ‘B-’ to ‘B’, with stable outlooks: Ukrsibbank, Ukrsotsbank, Forum, ProCredit Ukraine, Pravex, VTB Ukraine, Oshchadbank and Ukreximbank.