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 S&P upgraded Ukraine's foreign currency sovereign ratings

International rating agency Standard & Poor's has upgraded Ukraine's long-term and short-term foreign currency sovereign ratings to "B-/B" from "SD/D" (selective default).

According to the agency's press release, the long-term and short-term national currency sovereign ratings have been upgraded to "B-/B" from "CCC+/C", Censor.NET informs citing Interfax.

Read more: Fitch downgraded Ukraine's foreign currency IDRs to "restricted default"

The changes are caused by completion of negotiations of the Ukrainian government on restructuring of the country's external commercial debt.

S&P analysts predict that Ukraine's real GDP will fall by about 15 percent in 2015 after shrinking by 6.8 percent last year. Next year they expect growth of 2 percent, in 2017 - 3.5 percent, and in 2018 - 4 percent.

See more: Ukraine hits top three economies close to default. MAP

Consumer prices will jump to as high as 55 percent this year after rising by 12.2 percent in 2014, the experts say. In 2016, inflation will slow down to 20 percent, in 2017 - to 14 percent, in 2018 - to 9 percent.
 
 
 
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