Moody’s upgrades Ukraine’s rating to ‘B3’

Ratings

Photo by Daniel J. Macy / Shutterstock.com

Moody’s Investors Service has raised Ukraine’s sovereign credit rating to "B3" from "Caa1" and assigned a stable outlook, Trading Economics reports. 

Photo by Daniel J. Macy / Shutterstock.com

The rating agency cited the easing of Ukraine’s near-term funding challenges and the safeguards afforded to recent improvements in its external vulnerability, as a result of a new financing program with the International Monetary Fund, as the main driver behind the upgrade on June 12.

Standard & Poor’s and Fitch both have their credit rating for Ukraine at "B" with a stable outlook, Trading Economics notes.

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