22 Aug 2022 10:10

S&P upgrades Ukraine's rating to CCC+ after debt restructuring

MOSCOW. Aug 22 (Interfax) - S&P Global Ratings has upgraded the long-term and short-term foreign currency issuer ratings of Ukraine to "CCC+/C" from "SD/SD" (selective default), and the ratings of the country's restructured bonds to "CCC+" from "D."

The agency said in a press release that it also affirmed Ukraine's sovereign national currency issuer rating at "CCC+/C" and upgraded the rating under the national scale to "uaBB" from "uaBB-".

The outlook for the long-term ratings is stable.

The rating action follows the completion of the restructuring of Ukraine's distressed debt, S&P said.