Financial sector news

The international rating agency Fitch Ratings has upgraded Ukraine's credit rating from “Restricted Default” to “CCC.” The decision was made after reaching agreements with creditors on the exchange of GDP warrants.

Ukraine's rating had remained at “restricted default” since August 2024, when the state began the process of restructuring its Eurobond debt.

Fitch noted that the rating upgrade reflects the normalization of Ukraine's relations with the vast majority of its external commercial creditors. According to the agency's assessment, the state has already restructured 94% of its sovereign commercial debt.

Financial support from the European Union was also a positive factor. In particular, the agreed €90 billion loan will cover Ukraine's financial needs for more than a year in advance and significantly reduce short-term risks to the stability of public debt.

Reference: Fitch Ratings assesses the credit ratings of borrowers in more than 150 countries worldwide on a standardized scale and conducts research and analysis of commercial and government organizations.