Fitch lifts Ukraine

Fitch Ratings said it has upgraded the Republic of Ukraine's sovereign long-term foreign and local currency issuer default ratings to B from B-.

The outlooks on the long-term issuer default ratings are stable.

At the same time, the agency has affirmed Ukraine's short-term foreign currency issuer default rating at B and upgraded the country ceiling to B from B-.

"The upgrade of Ukraine's sovereign ratings follows the agreement on a new $14.9bn IMF loan program, which supports confidence in the policy and financing outlook, reduces the risk of macroeconomic and financial instability and is positive for the country's creditworthiness," said David Heslam, director in Fitch's sovereign team.

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