S&P Global Ratings has left Ukraine’s long-term sovereign ratings in foreign and national currencies unchanged at B- placed on CreditWatch with a possible downgrade, Report informs referring to the agency.
Short-term ratings at 'B' also remain placed on CreditWatch with a possible downgrade.
The possible downward revision of the ratings reflects the multiple risks to Ukraine’s economy, external balance sheets, public finances, and financial and political stability associated with Russia’s military operation, according to the agency.
S&P predicts a reduction in production in Ukraine by the end of the year, as well as an increase in both export and import prices.
The agency expects that government debt servicing and borrowing needs will be fully covered by international financial support for at least a year.