OREANDA-NEWS. March 19, 2010. Standard & Poors has upgraded Ukraine’s national scale debt rating from UaBBB to UaA. This followed the upgrade of Ukraine’s sovereign ratings in foreign currency (from CCC+/C to B-/C), as well as in the national currency (from B-/C to B/B).

We consider the news to be positive for Ukraine, since the current S&P rating implies Ukraine’s eagerness to redeem its obligations, which is still susceptible to adverse effects of changes in economic conditions. Meanwhile, we expect that Fitch agency will improve Ukraine’s rating after the State Budget 2010 is approved.