Standard & Poors has maintained Ukraines long-term sovereign rating of B+ in foreign currency, and downgraded the countrys national currency rating one notch from BB- to B.
The B rating for short-term foreign currency and national currency stayed the same.
Ukraine is in the midst of promising fiscal reforms, which led S&P to set the outlook on the ratings as stable.
However, the ratings were constrained by double-digit inflation, unsustainably high pension spending, political constraints to fiscal consolidation and a significantly leveraged financial sector, with considerable nonperforming loans, custodian SEB said in an alert to clients.
(CG)