Wednesday, February 25, 2009

Standard and Poor's downgraded the sovereign rating of Ukraine.

SyuzhetyRossiyskie loans to countries SNG13.02.2009Deputaty Duma agreed to a soft loan KirgiziiKommentariiNa dne17.02.2009Ukraina classify data on GDP and reported on the decline promproizvodstvaMezhdunarodnoe agency Standard & Poor's (S & P) once again downgraded the sovereign rating of Ukraine , reported AFP. Long-term credit rating on liabilities in foreign currency was changed from "B" to "CCC +" and short-term - with a "B" to "C".
In addition, S & P also revised the credit ratings of Ukraine in the national currency, lowering it from "B + / B" to "B-/ C", transmits RIA Novosti. Outlook on the ratings remains negative. This means that in the near future ratings may be revised over the agency.
The reason for the revision of the ratings in the direction of reducing the fears of analysts began to S & P on the stability of the Ukrainian economy and the continued receipt by Ukraine of credit allocated to the International Monetary Fund (IMF). Back in 2008, the Ukrainian side agreed with the IMF on loan at 16.5 billion dollars. The first tranche (4.5 billion) has already been to Ukraine, but the decision on subsequent payments to the IMF has not yet been decided.
Last year, S & P rating reduced twice in Ukraine. In June 2008, long-term sovereign rating on obligations in foreign currency has changed from "BB-" to "B +" and in the national - to "BB" to "BB-". Short-term ratings were lowered. In October, the state's sovereign debt rating on liabilities denominated in foreign currencies were downgraded from "B +" to "B", as in the national currency - to "BB-" to "B +".
Previously, the rating of Ukraine has been revised to agency Fitch Ratings. February 13, the state long-term rating in foreign and local currency has been lowered from "B +" to "B". Fitch also left the outlook for the rating "negative."

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